Business Law II question 7

Law
Tutor: None Selected Time limit: 1 Day

Nymeria buys a promissory note off of Yolanda for $300. Nymeria buys the note in good faith, and she is unaware of the fact that Yolanda secured the note from Georgia through Fraud in the Inducement. Nymeria seeks to enforce the note. Can she? Explain.

Jul 23rd, 2015

Thank you for the opportunity to help you with your question!

Nymeria since she bought the $300  promissory note from Yolanda unaware that the same had been obtained fraudlently from Georgia, she can seek refund from Nymeria through enforcement as long as she proves through documentation that the note was from  Yolanda and paid for it.

It is upto Yolanda to meet Georgia to sort out the matter as both know the state of the promisory note, this is a serious matter both should serve jail term.

Please let me know if you need any clarification. I'm always happy to answer your questions.
Jul 23rd, 2015

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