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ASE-Style Multiple Choice Which of the following statements is LEAST-Likely true?
Alters
In legal or general context, to change or modify something, such as a document, condition, or situation.
Holder In Due Course
A legal term for an individual or entity that has acquired a negotiable instrument in good faith and for value, and therefore has certain rights above the original payee.
Negotiates
The process by which parties come together to try and reach an agreement on a matter, often involving discussion and compromise.
Fictitious Payee Rule
A legal principle that holds a drawer of a check responsible when funds are obtained by fraud, if the drawer fails to exercise caution in issuing the check.
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