question 8 commercial paper from barbri
Posted: Mon Jul 21, 2014 12:23 am
For anyone using Barbri MEE (book), I am wondering if there is an error in question 8 of the commercial paper section. It says that the dealer had NOT delivered the car yet. Thus, can he still be an HDC even if he has not given value? Or did the promise to deliver car/contract to sell car count?
OOPS. Dealer's promise to deliver a car to Cal--rather than actual delivery--is not value. Dealer is not an HDC, but the Shelter rule comes into play..
OOPS. Dealer's promise to deliver a car to Cal--rather than actual delivery--is not value. Dealer is not an HDC, but the Shelter rule comes into play..