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Train issued a $10,000 note to Curator in exchange for a painting that Curator claimed to have been painted by a certain artist. The note provided that it was payable 10 days after Train sold his car. Train sold his car on May 1. Meanwhile, Curator transferred the note to Contractor in payment of work Contractor had performed for Curator. When Contractor presented the note to Train for payment 10 days after Train sold his car, Train refused to pay Contractor, claiming that the note was not negotiable and that Curator had defrauded him because the painting was not by the painter specified and, instead, was an almost valueless copy. Under the Negotiable Instruments Article of the UCC, which of the following statements is correct regarding the status of the note?
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