Vicenzo, in Good Faith and for Value, Gets from Wren

question 21

Multiple Choice

Vicenzo, in good faith and for value, gets from Wren a check "payable to the order of bearer." Vicenzo does not know that Wren stole the check. Vicenzo is​

• A) ​an HDC.
• B) ​not an HDC, because Wren did not acquire the check for value.
• C) ​not an HDC, because Wren did not acquire the check in good faith.
• D) ​not an HDC, because the check is a bearer instrument.

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Definitions:

Short-Run Phillips Curve

A curve illustrating an inverse relationship between the rate of inflation and the rate of unemployment in the short term.

Disinflation

A decrease in the rate of inflation, indicating a slowdown in the rate at which prices for goods and services rise.

Financial Crisis

A situation where financial assets suddenly lose a large part of their nominal value, often leading to bankruptcies, bank failures, and economic downturns.

Price Level

A measure of the average prices of goods and services in an economy, indicating inflationary trends and purchasing power.