A Holder in Due Course Must Meet All of the Following

question 37

Multiple Choice

A holder in due course must meet all of the following conditions except:

• A) giving no value for the instrument.
• B) taking the instrument for value.
• C) acting in good faith.
• D) being ignorant of the fact that the paper is overdue or dishonored.

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Definitions:

De-facto

Describes practices or conditions that exist in reality, even if not legally recognized or officially sanctioned.

Approved List

A curated selection of investments deemed suitable for purchase or inclusion in a portfolio by a financial institution or advisor.

Successful Entrepreneurs

Individuals who have effectively managed to turn their business ideas into profitable and sustainable ventures.

Knowing What To Do

Possessing the awareness, knowledge, or expertise to make appropriate decisions or actions in specific situations.