Jeff makes out a 2000 negotiable promissory note payable to, Ask an Expert

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Jeff makes out a $2000 negotiable promissory note payable to Dalton. By special endorsement, Dalton transfers the note for value to Danny. By Blank endorsement, Danny transfers the note for value to Ben. By special endorsement, Ben transfers the note for value to Rocky.

In need of cash, Rocky transfers the instrument for value by blank endorsement back to Danny. When told that Dalton has left the country, Danny strikes out Dalton's endorsement.

Later he learns that Dalton is a wealthy restaurant owner in Seattle and that Jeff is financially unable to pay the note.

Danny contends that, as a holder in due course, he can hold Dalton, Ben, or Rocky liable on the note. Discuss fully Danny's contentions.

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Financial Management, Finance

Category:- Financial Management
Reference No.:- M92797338

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