Ranjit Currently Has Possession of a Cheque That Was Created

question 9

Multiple Choice

Ranjit currently has possession of a cheque that was created by Maura.Although Maura created that cheque on January 1, the instrument is dated June 1.The cheque originally was payable to Nora.The cheque now bears endorsements by Nora and Shelley.Maura, Nora, Shelley, and Ranjit are the only parties that have dealt with the cheque.Which of the following statements is TRUE?

• A)Ranjit may be a holder in due course even if he did not personally provide consideration to anyone.
• B)Ranjit cannot be a holder in due course if today's date is July 1.
• C)Ranjit cannot be a holder in due course unless Shelley was a holder in due course.
• D)Ranjit cannot be a holder in due course if he received the cheque when it was in bearer form.
• E)Maura may be the drawee of the cheque.

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