Asked by
Ammar Assem
on Dec 19, 2024
Verified
To obtain a loan, Nero signs a note payable to Opie. Opie indorses the note and sells it to Payday Capital, which in turn indorses the note and negotiates it to Quality Investments. Nero tenders a partial payment on the note, which Quality refuses. Discharged to the extent of the tender is
A) no one.
B) Opie only.
C) Opie and Payday Capital.
D) Payday Capital only.
Partial Payment
An amount paid that is less than the total due, often applied to a debt or invoice, which does not fully settle the outstanding amount.
Indorses
To sign the back of a financial instrument, thereby transferring ownership or to express support.
- Comprehend liability and discharge in the context of negotiable instruments.
Verified Answer
GD
Learning Objectives
- Comprehend liability and discharge in the context of negotiable instruments.