The Shelter Principle Permits a Holder with Notice of a Claim

question 37

True/False

The shelter principle permits a holder with notice of a claim or defense to attain HDC status by reacquiring the instrument from a later HDC.

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Definitions:

Aristocracy

A class of people holding exceptional rank and privileges, especially the hereditary nobility.

Scorned

Felt or expressed contempt or disdain towards someone or something.

Artists

Creative individuals who produce art, such as paintings, sculptures, music, and literature.

Puncture

A small hole made by a sharp object such as a needle or nail.