Week 5: Discussion 1 International Sales Alberta Alpha makes out a promissory note payable to Bob Bravura.

Week 5: Discussion 1

International Sales

Alberta Alpha makes out a promissory note payable to Bob Bravura. Bob endorses the note “without recourse, Bob Bravura,” and transfers it for value to Cathy Charles. Cathy, in need of cash, negotiates the note to Dan Delta by endorsing it “pay to Dan Delta, Cathy Charles.” On the due date, Dan presents the note to Alberta, only to find out that Alberta has filed for bankruptcy and that she will have all of her debts (including the note) discharged. Can Dan hold Alberta, Bob and/or Cathy liable on the note? Explain your answer by using and comparing principals from the UCC, ULB and BEA.

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