Coppersmith executed and delivered negotiable notes to the payee, ...

[mspears3]

Coppersmith executed and delivered negotiable notes to the payee, Charlene. The payee indorsed the notes to Whitehurst but did not deliver them. Instead, she kept the notes in her possession because she wanted to collect the interest during her life and wanted the indorsee to have the notes on her death. After Charlene's death, her executor, Cartwright, found the notes. Both Cartwright and Whitehurst sought to enforce the notes against Coppersmith. Who was entitled to do so?

Question 2

RESPA applies to:
 A)All commercial mortgages.
 B)All FHA mortgages.
 C)All construction loans
 D)None of the above

[isabelt_18]

Answer to Question 1

Cartwright. As executor of the payee, Cartwright acquired by operation of the law the right to enforce payment by assignment. The indorsement to Whitehurst was not effective to negotiate the instruments because negotiation required both indorsement and delivery by the person to whom they were then payable, and there had been no delivery.

Answer to Question 2

B

[mspears3]

Great answer, keep it coming

[Sarahjh]

Excellent