Can the Payee of a Negotiable Instrument Be a Holder

Multiple Choice

Can the payee of a negotiable instrument be a holder in due course?

A) yes, the payee is always a holder in due course
B) yes, for notes but not for drafts
C) no, not under any circumstances
D) usually not, because the payee is usually aware of defenses or irregularities
E) only if a check is involved