Multiple Choice
Which of the following qualifications renders a person a holder in due course of a negotiable instrument?
A) he takes the negotiable instrument for value
B) he is subject to claims and defenses against the transferor
C) he is in possession of an instrument issued in his name
D) he is in possession of an instrument issued in another's name
Correct Answer:
Verified
Correct Answer:
Verified
Q5: A special indorsement does not specify to
Q6: An instrument that is not payable to
Q7: An indorsement with just the indorsee's signature
Q8: For an order paper to be negotiated
Q9: An instrument that is not payable to
Q11: A separate piece of paper attached to
Q12: The holder of a negotiable instrument has
Q13: An indorsement whereby the indorser promises to
Q14: Under the Uniform Commercial Code's _ requirement,
Q15: A qualified indorsement protects subsequent indorsers from