Horst, a Holder in Due Course, Buys a Note Made

question 17

True/False

Horst, a holder in due course, buys a note made out by Arthur to Superior Motors. Even though Arthur's debt was discharged through bankruptcy, Horst can collect on the note.

---

Definitions:

Construction

The process or activity of building structures such as houses, roads, and buildings.

User Cost

The cost of using a capital asset, considering both the depreciation of the asset and the interest lost by investing in the asset instead of elsewhere.

Extracted

Refers to the process of removing or obtaining a resource, substance, or element from its source or original environment.

Optimal Quantity

The level of production or consumption that maximizes efficiency or benefits while minimizing costs.