Austin makes out a negotiable promissory notes payable to, Ask an Expert

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Austin makes out a negotiable promissory notes payable to the order of Anthony. Anthony indorses the note by writing on it “Without recourse, Anthony” and transfers the note for value to Dawson. Dawson, in need of cash, negotiates the note to Ronnie by indorsing it with the words “Pay to Ronnie, Dawson.” On the due date, Ronnie presents the note to Austin for payment, only to learn that Austin has filed for bankruptcy and will have all debts (including the note) discharged. Can Ronnie hold Austin, Anthony, or Dawson liable for the note? Explain your answer! Must be 115 words or more.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92859629

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