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Asked by kingjasz
Jason pays with a promissory note that states, "This acknowledges...
Jason pays with a promissory note that states, "This acknowledges my debt to Sam in the amount of $60,000 that I owe for the original 1969 Chevrolet Corvette I bought from him today, April 1, 2021. I will pay the $60,000 in full within one month from today." (The promissory note is valid/satisfies all requirements of formation and execution).
Sam then uses the $60,000 note to pay off a loan he owes to Leslie and physically delivers the note to Leslie. However, Jason learns a week later that the Corvette had hidden defects. Jason calls Sam to notify Sam that Jason is filing a breach of contract lawsuit against Sam. Jason refuses to make any payments until the matter is resolved in court.
In the first week of May of 2021, Leslie contacts Jason to collect the $60,000.
Identify the legal terms and issues. Can Leslie successfully collect from $60,000 from Jason?
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Answered by mallarileo21
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