The Advantage of a Holder in Due Course Over a Simple

Multiple Choice

The advantage of a holder in due course over a simple holder of an instrument is that the holder in due course can:

A) indorse the instrument "without recourse," thus limiting his liability.
B) transfer the instrument to others, thus using it as a substitute for money.
C) collect on the instrument, even if it has been forged.
D) collect on the instrument if the maker or drawer asserts a personal defense.
E) collect punitive damages from a party who wrongly does not pay a negotiable instrument.