Lisa Buys a Used Car from Kelly

Multiple Choice

Lisa buys a used car from Kelly. She pays 10 percent of the cost down and signs a negotiable promissory note promising to pay Kelly the remainder of the purchase price, with interest, in 12 equal monthly installments. At the time of sale, Kelly lied about the mileage of the automobile. Later, Kelly negotiated the note to Frances, who has no notice of the lie. Frances, a holder in due course (HDC) , negotiated the note to Zoe, who is not an HDC. Which of the following is Zoe in regards to the promissory note?

A) a holder in due course
B) a holder
C) an assignee
D) an assignor