Kris Transfers a Note, on Which Lin Is the Maker

question 17

Multiple Choice

Kris transfers a note, on which Lin is the maker, to Mari, who takes it for value and in good faith. Mari knows that Kris breached the contract underlying the note, giving Lin a defense against payment. With respect to this note, Mari is

• A)a knowledgeable holder in due course.
• B)an ordinary holder.
• C)an ordinary holder in due course.
• D)a knowledgeable acceptor.

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