Exam 24: Holder in Due Course and Defenses

Jane holds out a piece of paper for her boss and points to the signature line, saying, "This is a receipt for goods we received a little while ago." The boss signs it. If it is not a receipt; but a signature line on a promissory note, Jane has committed _____.

A consumer transaction is defined as a purchase of goods or services by natural person, not a corporation or partnership, for personal, family, or household use from a seller in the ordinary course of business.