Jill, in Good Faith and for Value, Gets from Kiley

question 48

Multiple Choice

Jill, in good faith and for value, gets from Kiley a negotiable bearer instrument. Jill does not know that Kiley stole the instrument. Jill is​

• A) an HDC.​
• B) ​not an HDC, because Kiley did not acquire the instrument for value.
• C) ​not an HDC, because Kiley did not acquire the instrument in good faith.
• D) ​not an HDC, because the instrument is a bearer instrument.

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Definitions:

Periodic-Tenancy Lease

A rental agreement that automatically renews for successive periods (such as monthly or yearly) until either party terminates it.

Tenancy-At-Will Lease

A lease that may be terminated by the parties at any time.

Tenancy-At-Sufferance Lease

A lease that is created when a tenant who was lawfully in possession of a leased property remains in possession of that property unlawfully after the lease ends because the person with the power to evict him failed to do so.

Landlord-Tenant Relationship

A legal arrangement between the owner of a property (landlord) and a person who has been granted temporary possession (tenant).