Multiple Choice
Which of the following will not be considered value in connection with determining holder in due course status?
A) performing the act for which the instrument was given
B) promising to perform an existing legal obligation
C) receiving the instrument as security for a loan
D) taking the instrument in payment of a debt
Correct Answer:
Verified
Correct Answer:
Verified
Q8: The primary party on a draft is
Q9: When the primary party refuses to pay
Q10: A holder in due course must meet
Q11: The law gives certain holders of a
Q12: A holder through a holder in due
Q14: Universal defenses work against all of the
Q15: Generally, defenses that could be raised in
Q16: Bad faith may exist because a transferee
Q17: Under the _doctrine, the holder has taken
Q18: A person cannot become a holder through