Jill, in Good Faith and for Value, Gets from Kiley

question 6

Multiple Choice

Jill, in good faith and for value, gets from Kiley a negotiable bearer instrument. Jill does not know that Kiley stole the instrument. Jill is

• A) an HDC.
• B) not an HDC, because Kiley did not acquire the instrument for value.
• C) not an HDC, because Kiley did not acquire the instrument in good faith.
• D) not an HDC, because Kiley transferred the instrument without notice.

---

Definitions:

Interest Rate

The fee, represented as a percentage of the principal amount, that a lender imposes on a borrower for the utilization of assets.

Lend Money

The act of giving money to another party under the agreement that it will be repaid, often with interest, at a future date.

Unanticipated Inflation

Inflation that occurs when the general level of prices rises at a rate that was not forecasted or expected by consumers, businesses, or economists.

Saving

The portion of income not spent on current consumption but rather set aside for future use.