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Fraud in the Execution of an Instrument Is a Real

question 46

True/False

Fraud in the execution of an instrument is a real defense which can be used against a holder in due course.


Definitions:

Universal Life

A type of flexible permanent life insurance that offers the low-cost protection of term life insurance as well as a savings element, which is invested to provide a cash value buildup.

Protection

Measures taken to safeguard something or someone against harm or damage.

Life Insurance

A contract between an insurer and a policyholder in which the insurer pays a designated beneficiary a sum of money upon the death of the insured person.

Floater Policy

A policy that insures property that cannot be covered by specific insurance because the property is constantly changing in either value or location.

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