A Holder in Due Course Is in the Same Position

question 146

True/False

A holder in due course is in the same position as the person from whom a negotiable instrument was received.

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Definitions:

Conversion

In logic, a method of changing a categorical proposition by interchanging its subject and predicate without altering its truth value.

Obversion

A logical operation that involves changing a categorical statement into its obverse by negating both the subject and predicate and changing the quality of the statement from affirmative to negative, or vice versa.

Contraposition

A method in logic for deriving a new statement by reversing and negating both the subject and predicate of the original statement.

Universal Proposition

A statement or proposition that asserts something of all members of a specific class or category.