Which of the Following Is False Regarding the Elements a Party

question 71

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 without notice of defects.
• C)The holder must take the instrument for value.
• D)The holder must either pay for the instrument or receive it as a gift.
• E)The holder must take the instrument in good faith.