Mark Performs Moving Services for Nell, Who Pays Him with a Promissory

question 36

Multiple Choice

Mark performs moving services for Nell, who pays him with a promissory note for $400. Mark is aware that there are bankruptcy proceedings against Nell. Mark is

• A) an HDC.
• B) not an HDC, because Mark obtained the note with notice of a defect.
• C) not an HDC, because Mark did not acquire the instrument for value.
• D) not an HDC, because Mark did not acquire the instrument in good faith.

---

Definitions:

Counterclaim

A claim made by the defendant against the plaintiff that is filed along with the defendant’s answer.

Defendant

An individual, company, or institution sued or accused in a court of law.

Plaintiff

The party who initiates a lawsuit before a court against the defendant, seeking a legal remedy for a grievance.

Harmed

Suffered damage or injury, either physically, financially, emotionally, or legally.