PART I: MULTIPLE CHOICE QUESTIONS 30 Questions 30% of Final…
PART I: MULTIPLE CHOICE QUESTIONS 30 Questions 30% of Final Exam Grade – Please Allocate Time Wisely Select the best answer out of the available choices.1. Don purchased an original painting numbered 3/30 at a local gallery. The gallery offered financing for the painting so Don signed an installment note that required payment over two years at $500 a month with a 3% interest rate. The payment is due on the first of every month until paid in full. The local gallery sold the note for full value to a third-party investor. Don ran into financial problems so he stopped making payments after 15 months. Is the third-party investor justified in enforcing collection of the balance of the payment from Don?