Incapacity Cannot Be Raised as a Defense Against a Holder

question 51

True/False

Incapacity cannot be raised as a defense against a holder in due course.

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Definitions:

Bretton Woods System

was a monetary order established in 1944, which set up fixed exchange rates, the International Monetary Fund (IMF), and the World Bank to regulate international financial and monetary affairs.

U.S. Dollar

The official currency of the United States, widely used as a global reserve currency.

Industrial Market Countries

Nations with advanced economies primarily based on the manufacturing and marketing of goods and services, rather than agriculture.

Developing Countries

Nations with a lower living standard, undeveloped industrial base, and low Human Development Index relative to other countries.