At 1AM, on the Sidewalk in Front of EZ Credit Corporation

question 6

Multiple Choice

At 1A.M., on the sidewalk in front of EZ Credit Corporation, which is closed, Frank buys a $500 promissory note for $50 from Greg. When presented with Frank's demand for payment, Diane, the maker of the note, could successfully claim that Frank​

• A) ​acquired the note with notice that it was overdue.
• B) ​did not acquire the instrument in good faith.
• C) ​did not give value for the instrument.
• D) ​none of the choices.

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Definitions:

Absolute Advantage

The capacity of a person, company, or nation to generate a greater quantity of a product or service using an identical quantity of inputs as compared to competitors.

Broccoli

A green plant from the cabbage family, known for its nutritional benefits and widely consumed as a vegetable.

Opportunity Cost

The cost attached to not opting for the immediately lesser favorable choice when making a decision.

Russia

A country in Eurasia, the world's largest by land area, known for its significant contributions to arts, science, and global politics, as well as its rich cultural heritage.