[Anonymous]

I have a question regarding the real defenses for the maker/drawer of commercial paper.

I understand that if there is fraud in the execution or forgery, for example, that the HDC cannot get the maker or the drawer to pay in these circumstances. However, what I don’t understand is if the endorsers are still liable in this case. If the maker of the note executed it but it was considered fraud in the execution, then is it just considered to be void and everyone who endorsed is discharged and if anything, the person who committed the fraud is liable and is the only person who is liable? What about with forgery?

I just need some clarification because all of these topics are starting to confuse me because they are all starting to sound so similar at this point. Thanks!

[msgolds]

Maybe I'm wrong, but I think that if the endorser was given consideration for the commercial paper then he probably would be liable. That said, he would likely be able to recover damages from the party that committed fraud in the execution.

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