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Which of the following is a neutralization reaction?
Dishonor
The refusal or inability to accept or pay a bill of exchange, promissory note, or other credit instrument when due.
Real Defenses
Legitimate legal defenses available in disputing the validity or enforceability of negotiable instruments.
Personal Defenses
Legal justifications or excuses that an individual can claim to defend against blame or legal liability.
Holders In Due Course
Individuals or entities that have acquired a negotiable instrument in good faith and for value, thus having certain protections against defenses and claims that could be asserted against the prior holders.
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