Wang obtains a loan from Xi and signs a note for the amount payable to the lender, who indorses the note and negotiates it to Yuri. Zhang acquires the note from Yuri, and subsequently agrees not to sue Wang on the note. This discharges
A)none of the parties.
B)Xi only.
C)Xi and Yuri.
D)Yuri only.

Question

Quizplus · Accepted Answer

Zhang's agreement not to sue Wang discharges Xi and Yuri because they are both indorsers on the note.

Wang Obtains a Loan from Xi and Signs a Note