Which of These Is True Regarding "Failure of Consideration" and "Lack

question 22

Multiple Choice

Which of these is true regarding "failure of consideration" and "lack of consideration"?

• A)They are real defenses which can be used against holders in due course.
• B)Failure of consideration is a real defense and lack of consideration is a personal defense.
• C)Failure of consideration is a personal defense and lack of consideration is a real defense.
• D)They are personal defenses which cannot be used against holders in due course.

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Definitions:

Rent

A periodic fee paid by a tenant to a landlord for the use of property, such as real estate or equipment.

Interest

The cost of borrowing money or the profit earned from lending money, typically expressed as a percentage of the principal amount per year.

Considerations

Factors or aspects that need to be taken into account before making a decision or evaluation.

Substitute Items

Products or services that can replace or serve as alternatives to another, meeting the same needs or fulfilling the same functions.