Commercial Law, 2011 Bar — Question 95

MULTIPLE CHOICE

May the indorsee of a promissory note indorsed to him “for deposit” file a suit against the indorser? A) Yes, as long as the indorser received value for the restrictive indorsement. B) Yes, as long as the indorser received value for the conditional indorsement. C) Yes, whether or not the indorser received value for the conditional indorsement. D) Yes, whether or not the indorser received value for the restrictive indorsement.

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