Jill, in Good Faith and for Value, Gets from Kiley

question 6

Multiple Choice

Jill, in good faith and for value, gets from Kiley a negotiable bearer instrument. Jill does not know that Kiley stole the instrument. Jill is

• A) an HDC.
• B) not an HDC, because Kiley did not acquire the instrument for value.
• C) not an HDC, because Kiley did not acquire the instrument in good faith.
• D) not an HDC, because Kiley transferred the instrument without notice.

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Definitions:

Quantity Consumers

Refers to the number of individual buyers or units purchased in the market.

Income Effect

Refers to the change in the quantity of a product demanded by consumers due to a change in their income.

Price Sensitivity

The degree to which the price of a product or service affects consumers' purchasing behaviors or demand for that product or service.

Elastic

Describes a situation in economics where the demand or supply for a product changes significantly when its price changes.