Which of the Following Is False Regarding the Elements a Party

question 53

Multiple Choice

Which of the following is false regarding the elements a party must meet in order to be considered a holder in due course?

• A) The party must be a holder of a complete and authentic negotiable instrument.
• B) The holder must take the instrument for value.
• C) The holder must take the instrument in good faith.
• D) The holder must take the instrument without notice of defects.
• E) The holder must either pay for the instrument or receive it as a gift.

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Definitions:

Unemployment Insurance

A government program that provides temporary financial assistance to workers who have lost their jobs through no fault of their own.

Minimum-Wage Law

Legislation that establishes the lowest hourly wage that employers can legally pay their workers.

Equilibrium Wage

The wage rate at which the quantity of labor demanded by employers equals the quantity of labor supplied by workers.

Labor Supplied

The total number of hours that workers are willing and able to work at a given wage rate.