B LAW 220 Lecture Notes - Lecture 6: Negotiable Instrument, Promissory Note, Product Liability
Document Summary
The inal way to sue for product liability is negligence. Macphearson vs bewick motor company: changed the law. Bearer paper time problem (you don"t know when you are going to get paid: **test** pay to steve signed sarah not a promissory note because it"s not order . Bearer paper: must have words cash or check. If both words order and/or cash or check bearer paper because bearer always overpowers. E goes to a to collect, if a cannot provide/has a defense go down the chain assuming they endorsed the note. **must tell them(~a) within 30 days of the date of dishonor. D - holder of note is at the botom of chain. Holder in due course sexy holders guy at the botom of the chain: real defenses: may be raised by a banker or a drawer against anyone, a minor b, bankruptcy. Judicially declared incompetent: personal defenses: breach of warranty cannot be raised against holder in due course.
