In the Case in the Text General Credit Corp

question 79

Multiple Choice

In the case in the text General Credit Corp.v.New York Linen Co. ,which of the following was the result?

• A)A holder in due course of a check was not subject to the personal defense of failure of consideration that the drawer of the check had against the payee of the check.
• B)A holder in due course of a check was not subject to the personal defense of duress that the drawer of the check had against the payee of the check.
• C)A holder in due course of a check was not subject to the personal defense of modification of the obligation by a separate agreement that the drawer of the check had against the payee of the check.
• D)A holder in due course of a check was not subject to the personal defense of breach of contract that the drawer of the check had against the payee of the check.

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Definitions:

Interorganizational Agreements

Interorganizational agreements are formal contracts or partnerships between different entities to pursue shared objectives or projects.

Organization Design

The process of structuring an organization's roles, responsibilities, and systems to achieve its goals and strategy efficiently.

Organizational Resistance

Opposition or pushback from employees or members of an organization against changes or policies perceived as harmful or unwanted.

Economic Reasons

Factors related to financial considerations that influence decisions or actions.