Jon Is a Holder in Due Course of a Negotiable

question 95

Multiple Choice

Jon is a holder in due course of a negotiable instrument and gives the instrument to Sarah as a Valentine's Day gift.

• A) Sarah is a holder in due course.
• B) Sarah is not a holder in due course but has the rights of a holder in due course.
• C) Personal defenses would be successful against Sarah.
• D) Sarah has become the payee of the instrument.
• E) Anyone Sarah transfers the instrument to becomes a holder in due course.

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Definitions:

Colonial Colleges

Colonial colleges are nine institutions of higher education in the United States that were established during the colonial period. They include Harvard, William & Mary, Yale, and others, and they played a significant role in the development of American higher education.

Religious Education

The teaching of a particular religion and its beliefs, practices, and moral values, often within an educational setting.

Lending Libraries

Public or private institutions that allow individuals to borrow books and other materials for a set period, promoting education and literacy.

Worldwide Events

Significant occurrences, phenomena, or activities that elicit international attention, interest, or participation and have global impacts or implications.