The Good Faith Test Applies to Both the Holder and the Transferor

question 64

True/False

The good faith test applies to both the holder and the transferor of an instrument.

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Definitions:

Consequent

The second part of a conditional statement, which is the result or outcome that follows from the condition stated in the first part (the antecedent).

Proposition

A statement that expresses a judgement or opinion which can be either true or false.

Modus Ponens

A logical argument form where if a conditional statement ("if p then q") and its antecedent (p) are true, then the consequent (q) is also true.

Antecedent

In logic and grammar, the antecedent is the preceding clause, phrase, or word to which another word, particularly a pronoun, refers back.