A Person Whose Name Is Forged on an Instrument Normally

question 30

True/False

A person whose name is forged on an instrument normally has no liability to pay any holder the value of the instrument.

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Definitions:

Holder in Due Course

A legal term indicating a person who has acquired a negotiable instrument in good faith for value and without notice of any defects.

Negotiation

The process of discussing an issue between two or more parties with competing interests to reach an agreement or compromise.

Transfer

In legal terms, it refers to the act of moving the ownership, title, or rights of a property or asset from one entity to another.

Article 3

Typically refers to a segment of a constitution, legal code, or treaty that outlines specific powers, rights, or obligations.