A Holder in Due Course of a Negotiable Instrument

question 51

Multiple Choice

A holder in due course of a negotiable instrument:

• A)can receive more rights than the previous holders.
• B)cannot transfer greater rights than they have themselves.
• C)can take an instrument even when it is not indorsed to him or her.
• D)is a person to whom the instrument is transferred as a gift.

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Definitions:

Crust

The outermost solid shell of a rocky planet, Earth in particular, which is chemically and mechanically distinct from the mantle below.

Mantle

The thick layer of the Earth located between the crust above and the outer core below, characterized by its solid yet plastic-like flow.

Refracted Wave

A wave that changes direction and speed as it passes from one medium to another due to differences in densities.

Material

Any substance or matter used in manufacturing, construction, or composition of something else.