Ranjit Currently Has Possession of a Cheque That Was Created

question 24

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.

---

Definitions:

Hyperopia

A vision condition where distant objects are seen more clearly than near objects because the eyeball is too short or the lens cannot become round enough.

Farsightedness

A common vision condition where distant objects can be seen clearly, but close ones do not come into proper focus.

Convex Lens

A lens that converges light rays to a point, having a curved shape that is thicker in the middle than at the edges, used to correct farsightedness.

Visual Acuity

The clarity or sharpness of vision, measured as the capability to identify letters or numbers at a standardized distance.