Questionnbspto finance the purchase of a bank mike moody, Ask an Expert

Management Studies

Question: To finance the purchase of a bank, Mike Moody, George Krumme, and others executed as comakers two promissory notes in the amount of $8.17 million. Moody received a 191 ⁄2 percent interest in a company that owned the bank. When a payment came due on the note, Moody could not pay his share, so the other comakers paid it. The other comakers sued Moody. What was Moody's responsibility on the note.

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Management Theories, Management Studies

Category:- Management Theories
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