In a Nonconsumer Transaction, a Holder in Due Course Takes

question 63

Multiple Choice

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

• A) only personal claims.
• B) 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.
• C) the defense of incapacity, duress, or illegality that renders the obligation void.
• D) no claims.

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Definitions:

Self-monitoring

The process of observing and regulating one's own behavior in social situations to fit social norms or expectations.

False Consensus

The cognitive bias of overestimating how much others share our beliefs, attitudes, and behaviors.

Narcissistic

Pertaining to, exhibiting, or characterized by narcissism, which is excessive self-focus, self-admiration, and a lack of empathy for others.

Self-esteem

The degree to which a person values themselves or feels worthy, which impacts their motivation and psychological well-being.