In a Nonconsumer Transaction, a Holder in Due Course Takes

question 22

Multiple Choice

In a nonconsumer transaction, a holder in due course takes the instrument free from:

• A) all defenses of any party with whom he has not dealt, except for a limited number of defenses that are available against anyone, including a holder in due course.
• B) the defense of incapacity, duress, or illegality that renders the obligation void.
• C) no claims.
• D) only personal claims.

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