Which of the Following Is True Regarding the Status of Sam

question 14

Multiple Choice

Which of the following is true regarding the status of Sam?

• A) He is not a holder in due course because he did not provide value.
• B) He is not a holder because he did not provide value.
• C) He is not a holder nor is he a holder in due course because he did not provide value.
• D) The fact that a gift was involved does not prevent Sam from being a holder in due course so long as other requirements are satisfied.
• E) The fact that a gift was involved does not prevent Sam from being a holder in due course so long as other requirements are satisfied and Sam is not a minor.

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