What Is the Consequence of a Defense to a Negotiable

question 39

Multiple Choice

What is the consequence of a defense to a negotiable instrument being a personal defense?

• A) The instrument must be paid to any holder.
• B) The maker or drawer has personal liability on the instrument.
• C) The instrument must be paid despite the defense if the defense is being asserted against a holder in due course.
• D) The instrument must be paid to any party presenting it for payment.
• E) The defense is not effective against a holder of any kind.

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Definitions:

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