If a Negotiable Instrument Is Transferred by Negotiation, the Transferee

question 197

Multiple Choice

If a negotiable instrument is transferred by negotiation, the transferee takes the instrument:

• A) with all of the transferor's rights and responsibilities
• B) free of the transferor's responsibilities
• C) with the duties that have been assigned to the instrument by the bearer
• D) with the rights that have been assigned to the instrument by the holder in due course
• E) none of the other choices