A Holder Is on Notice That an Instrument Is Defective

question 39

Multiple Choice

A holder is on notice that an instrument is defective when the holder:

• A) demands payment.
• B) brings suit for the collection of an instrument.
• C) gives a discharge or release from liability on the instrument.
• D) Has actual notice of a defect

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Definitions:

Social Interaction

The process by which individuals act and react in relation to others, forming the basis of social relationships.

Pleasure Principle

A theory in psychoanalytic psychology proposing that people seek pleasure and avoid pain in order to satisfy biological and psychological needs.

Negative Evaluation

The process of critically assessing something with unfavorable or disapproving conclusions.

Looking-Glass Self

A sociological concept suggesting that a person's sense of self develops through perceptions of how others view them.