Which of the Following Is False Regarding the Ways by Which

Multiple Choice

Which of the following is false regarding the ways by which a holder may take an instrument for value?

A) The holder performs the promise for which the instrument was issued or has started performance.
B) The holder acquires a security interest or other lien in the instrument.
C) The holder takes the instrument for payment of a preceding claim.
D) The holder exchanges the instrument for another negotiable instrument.
E) The holder exchanges the instrument for an irrevocable obligation to a third party.