Fact Pattern 26-1BJake is the maker of a $2,000 promissory note payable to Kim. Kim indorses the note to Lyron who, in turn, indorses it to Mona, who then indorses it to Neville, the present holder.Refer to Fact Pattern 26-1B. Suppose that Mona pays Neville on the note. With timely notice to the proper parties, Mona may collect payment on the note from
A. Jake, Kim, or Lyron.
B. Jake or Kim only.
C. Lyron only.
D. no one.
Answer: A
Business
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