Multiple Choice
A claim in recoupment:
A) is a claim of the original payee against the obligor of the instrument.
B) must arise from the transaction that gave rise to the instrument.
C) is actually not an offset to liability, but a defense to an instrument.
D) can make a person a holder in due course even if he knows about it before the negotiation.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: List the claims and defenses available to
Q2: The claims and defenses to payment of
Q3: When the holder of an instrument has
Q4: An instrument payable to cash:<br>A) can be
Q5: Under the Revised Article 3 of the
Q7: A person who receives a check as
Q8: How does one become a "holder in
Q9: An instrument payable to bearer may be
Q10: There are three basic kinds of indorsements:
Q11: Order paper can be negotiated by transfer