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Rebuild the engine in ernesto truck

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Reference no: EM131096658

Alfredo promises to rebuild the engine in Ernesto's truck in exchange for Ernesto's negotiation to him of a promissory note in the amount of $5,000. If Alfredo never rebuilds the engine:

  1. He cannot qualify as a holder in due course.
  2. The maker of the note will sue Alfredo for lack of consideration.
  3. The maker of the note will sue Ernesto for lack of consideration.
  4. He still qualifies as a holder in due course.

Reference no: EM131096658

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