Which of the Following Is TRUE

question 72

Multiple Choice

Which of the following is TRUE?

• A)A holder in due course takes a negotiable instrument subject to the defences that could be raised between the primary parties to the instrument.
• B)A third party receiving a promissory note cannot become a holder in due course.
• C)A holder in due course may acquire a greater right in a negotiable instrument than the original parties.
• D)Marking a cheque in a consumer transaction with the words "consumer note" eliminates the defences that could be raised by the original parties to the cheque.
• E)A bill of exchange is negotiable but not necessarily transferable.

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