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Kris Transfers a Note, on Which Liu Is the Maker

Question 53

Multiple Choice

Kris transfers a note, on which Liu is the maker, to Mia, who takes it for value and in good faith. Mia knows that Kris breached the contract underlying the note, giving Liu a defense against payment. With respect to this note, Mia is


A) a knowledgeable holder in due course.
B) an ordinary holder.
C) an ordinary holder in due course.
D) a knowledgeable acceptor.

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