Multiple Choice
Steve issues a negotiable promissory note to Bob in exchange for Bob's promise to build an addition to Steve's home.The promissory note indicates this reason when Bob negotiates it to Willard for value.Can Willard be a holder in due course?
A) Yes,unless he knows that Bob has not built the addition
B) Yes,unless he did not give adequate value
C) No,since he has taken the instrument with notice of a defense
D) No,since he has violated the "good faith" requirement
Correct Answer:
Verified
Correct Answer:
Verified
Q26: A check is made payable "to the
Q27: The "impostor rule" is an exception to
Q28: An indorsement must be written within 1
Q29: Delivery alone is insufficient to negotiate an
Q30: A holder in due course could recover
Q32: A mere holder or an assignee takes
Q33: Which of the following is not a
Q34: The customary manner of disclaiming the indorser's
Q35: The status of holder in due course
Q36: If there is no indorsee designated on