To Acquire the Preferential Rights of a Holder in Due

question 52

True/False

To acquire the preferential rights of a holder in due course, a person must either meet the requirements of the Code or must "inherit" these rights under the shelter rule.

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Definitions:

Deduction

A logical process in which a conclusion is based on the concordance of multiple premises that are generally assumed to be true.

General

A term used broadly to describe something that applies to all or most cases or situations without being specific.

Specific

Clearly defined or identified; distinct from others.

Intervention

An action taken to improve a situation, especially a medical procedure or a social or psychological support measure.