Sprock Is a Holder in Due Course on an Instrument

question 42

Multiple Choice

Sprock is a holder in due course on an instrument issued by a Klingon.Which of the following defenses could be successfully raised by the Klingon?

• A)Forgery.
• B)Prior payment.
• C)Breach of contract.
• D)Fraud in the inducement.

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Definitions:

Cost/Benefit Tradeoffs

The analysis or decision-making process regarding the advantages and disadvantages (costs and benefits) of a given action or investment.

Current Asset Account

A balance sheet account that represents the value of all assets that can reasonably be expected to be converted into cash within one year.

Cash Conversion Cycle

A metric that measures the time it takes for a company to convert its investments in inventory and other resources into cash flows from sales.

Inventory Collection

The process of organizing and managing products or stock that a company holds for sale to customers.