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Kris Transfers a Note, on Which Liu Is the Maker

Question 2

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) ​an ordinary note taker.

Correct Answer:

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