Solution-Can Z later refuse to pay the bill

Can Z later refuse to pay the bill

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Reference no: EM132912795

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Q1. A maker executed a promissory note payable to the order of B, payee.

B lost the note. X found it, signed the name of B and negotiated the instrument to C; C to D; D to E, holder.

a. Can E go against D, C and X (forger)? Why?

b. Can E go against B? Why?

c. Can E go against A? Why?

Q2. X (forger) executed a bill of exchange by signing the name of Y as drawer, making himself (X) as payee of the instrument and addressed the bill to Z as drawee. Then X (forger-payee) negotiates the bill to A who presents the instrument to Z for acceptance.

Z accepts and signs the bill as acceptor. Can Z later refuse to pay the bill by putting up the defense of forgery of the signature of the drawer? Why?

Reference no: EM132912795

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Can Z later refuse to pay the bill

Reference no: EM132912795

Reference no: EM132912795

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