Multiple Choice
Which of the following requirements has to be met for a holder to qualify as a holder in due course (HDC) under the shelter principle?
A) The holder must not be in possession of a prior negotiable instrument.
B) The holder must have notice of a defense or claim against the payment of the instrument.
C) The holder must have been a party to a fraud or an illegality affecting the instrument.
D) The holder must have acquired the instrument from an HDC.
Correct Answer:
Verified
Correct Answer:
Verified
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