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Mabel Issues a Negotiable Promissory Note to the Order of Rachel

Question 43

Multiple Choice

Mabel issues a negotiable promissory note to the order of Rachel. Rachel endorses the note to Batton, who takes it as a holder in due course. Batton gives the note to his brother, Albert, as a gift. In this situation:


A) Albert will acquire Batton's rights.
B) Albert is a holder in due course.
C) Batton can sue only on the instrument if he took it before maturity.
D) none of the above.

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