Thomas signed a blank promissory note and placed it on his office desk.Kelly,also present there,pilfered the note.The note ended up in the possession of Big Bank.What defense to payment does Thomas have?
A)Contributory negligence
B)Lack of delivery
C)Failure of consideration
D)Lack of possession

Question

Quizplus · Accepted Answer

Lack of delivery is a valid defense because Thomas never intended to deliver the note to anyone, including Kelly or Big Bank, indicating that the transfer of the note was not authorized.

Thomas Signed a Blank Promissory Note and Placed It on His