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Author Question: If a check is made payable to Paolo, and Paolo signs on the back of the check, Paolo is: A) the ... (Read 236 times)

kodithompson

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on: Jun 24, 2018
If a check is made payable to Paolo, and Paolo signs on the back of the check, Paolo is:
 A) the payee and the indorser.
 B)the drawee and the indorser.
 C)the payee and the endorsee.
 D) only the indorser.

Question 2

John Blackburn sold his property to Wilma Snyder for 95,000. Wilma paid 25,000 cash and assumed Blackburn's 70,000 mortgage. Six months after moving in, Wilma defaulted. What is John's liability?


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Jossy

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Reply #1 on: Jun 24, 2018
Answer to Question 1

A

Answer to Question 2

John remains liable. Mortgagee can choose to foreclose on the property.


kodithompson

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Reply 2 on: Jun 24, 2018
Great answer, keep it coming :)

irishcancer18

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Reply 3 on: Yesterday
Excellent

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