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27-12-2022
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Fact Pattern F. Jake is the maker of a $2,000 promissory note payable to Kim. Kim indorses the note to Lou who, in turn, indorses it to Mona, who then indorses it to Nat, the present holder. Refer to Fact Pattern F. Suppose that Mona pays Nat on the note. With timely notice to the proper parties, Mona may collect payment on the note from Lou only No one. Jake or Kim only Jake, Kim, or Lou.

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