Examlex
Which of the following is not an operating instrument?
Validity
Refers to the legal effectiveness and enforceability of a contract or legal document.
HDC Status
Refers to Holder in Due Course status, a term in the Uniform Commercial Code that represents a party who has acquired a negotiable instrument under certain conditions that provide protection from defenses and claims that could impair the right to enforce the instrument.
Negotiation
The process whereby parties discuss their differences and attempt to reach a mutually agreeable resolution.
Indorses
Endorses or signs the back of a financial instrument (such as a check) to transfer rights to another party.
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