Business law- signature requirements
If Tom, Jones’ agent, signs a promissory note, promising to pay Layla $12,000 in three months in the following manner “Tom, as agent for Jones,” is Jones liable for the $12,000? Explain your response with proper support.
Mary brought her diamond engagement ring to Paul Jewelers to be cleaned. She thought she signed a receipt from Paul but he tricked her and she actually signed a negotiable promissory note for $5,000. Paul negotiated the note to Harry, a holder in due course. When Harry presented the note to Mary, she refused to pay.
