A Taker of an Instrument Who Is a Holder in Due

question 31

Multiple Choice

A taker of an instrument who is a holder in due course at the time of the transfer, but who thereafter learns of a defense:

• A) becomes a holder through a holder in due course.
• B) becomes an ordinary holder.
• C) remains a holder in due course.
• D) becomes an assignee.

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Definitions:

Economy

The system of production, distribution, and consumption of goods and services within a society or geographical area.

Policy Analyst

A professional who evaluates and advises on the formulation of policies and strategies, often within governmental or organizational contexts.

Federal Government

The national government of a federation that holds the authority over the political entities such as states or provinces.

Societal Institution

An established organizational structure or system in society that governs the behavior and expectations of its members.