Determining an acknowledgment of delivery

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Reference no: EM131768841

Qusetion: John Johnson, who works for a well-known parcel delivery service, delivered a large package to Pete Peterson and had Pete sign what Pete believed was an acknowledgment of delivery. The package contained component stereo parts that Pete had ordered from a foreign supplier, and Pete was delighted to receive them. Pete did not give the matter a second thought until several months later, when Donna Doe demanded payment of $5,000. Pete discovered that he had signed a three-month negotiable promissory note, rather than the acknowledgment of a delivery, and that Donna had innocently purchased the note from John. Must Pete pay the note? Under the BEA or UCC? Under the ULB?

Reference no: EM131768841

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