A Person Can Become a "Holder in Due Course" If

question 37

True/False

A person can become a "holder in due course" if she takes an instrument as a gift,and without notice that anything is wrong with the underlying transaction.

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Definitions:

Transportation Costs

Expenses associated with moving goods or individuals from one location to another, including costs related to freight, fuel, and maintenance.

FOB

stands for Free On Board, a term used in shipping indicating that the seller is responsible for goods until they are loaded onto a shipping vessel.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights of those involved.

Destination Contract

A contract for the sale of goods where the seller is required to ship the goods to a specific location and title passes to the buyer upon delivery at that location.