Bruce Acquires a Series of Notes with Successive Maturity Dates

question 27

Multiple Choice

Bruce acquires a series of notes with successive maturity dates that Cody issued on May 15 for a loan from Delta Credit, Inc. At the time of Bruce's acquisition, he learns that Cody defaulted on one of the notes. Bruce is

• A) an HDC if he reacquires the notes after their negotiation to any un?suspecting third party.
• B) an HDC only with respect to the notes on which Cody has not defaulted.
• C) an HDC with respect to all of notes.
• D) not an HDC.

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Definitions:

Anterograde Amnesia

A condition characterized by the inability to form new memories following the onset of the disorder, while memories from the past remain intact.

Simple Decay

The fading of memory traces due to the mere passage of time without rehearsal.

Tip-of-the-Tongue Phenomenon

A temporary inability to retrieve a word from memory, accompanied by a feeling that retrieval is imminent.

Retrieval

The process of getting information out of memory storage.