Multiple Choice
Lucky loses in a high-stakes poker game to Fat Chance.To pay his debt,Lucky writes a check to Fat Chance,who negotiates the check to Convenient,who then tries to cash the check at Lucky's bank.Lucky has already stopped payment on the check,so the check is not honored by his bank.Convenient then tries to collect the check by suing Lucky.High-stakes poker games are illegal in this state.Which statement is correct?
A) If Convenient can demonstrate that he is a holder in due course,he will prevail.
B) If Convenient can demonstrate that he was a buyer in the ordinary course of business,he will prevail.
C) If Convenient can demonstrate that he gave value without notice,he will prevail.
D) Convenient will not prevail.
Correct Answer:

Verified
Correct Answer:
Verified
Q35: The evening news was full of stories
Q36: Matt wrote a $500 check to Alistar
Q37: A draft is always a check,but a
Q38: Commercial paper is a contract to pay
Q39: Maia wrote a check which said,"Pay to
Q40: Which statement about notes and drafts is
Q41: Discuss the effect on an instrument of:
Q42: Trisha loaned Brian $600 evidenced by a
Q44: Laurel Speckle received a check from State
Q45: A "holder" of order paper can be