To Be Found a Holder in Due Course, a Transferee

question 30

Multiple Choice

To be found a holder in due course, a transferee must:

• A) be in possession of an instrument in the form of either a draft or a check (but not a note) made out "to bearer "
• B) have agreed in writing not to be bound as a contractual assignee
• C) simply be in possession of a negotiable instrument
• D) provided a signed unconditional writing, promising (or ordering to pay), at a specified time in the future and made out "to order" or "to bearer "
• E) none of the other choices

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Definitions:

Mental Age

A measure of an individual's cognitive ability compared to the average cognitive ability of an age group.

IQ

Stands for Intelligence Quotient, a standardized score designed to measure human intelligence through various cognitive tasks and assessments.

Normally Distributed

A statistical term describing a distribution that has a specific bell-shaped symmetry around its mean.

Average Score

A statistical measure that summarizes the central tendency of a data set by dividing the sum of all values by the number of values.