Which of the Following Would Meet the Requirement of a Holder

question 4

Multiple Choice

Which of the following would meet the requirement of a holder in due course's having given value?

• A)A third party receives an instrument as a gift from the holder.
• B)An executory promise is given in receipt of an instrument.
• C)A holder takes an instrument in payment of an antecedent debt.
• D)A holder promises to perform several major household tasks in exchange for an instrument.

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Definitions:

Transformation Process

The conversion of inputs (such as raw materials, information) into outputs (products or services) through a set of operations.

Operations

The activities and processes used in making both tangible and intangible products.