Edie Is the Payee of a Bearer Instrument-A Promissory Note

question 35

Multiple Choice

Edie is the payee of a bearer instrument-a promissory note in the amount of $1,000.Frank offers to irrigate Edie's ranch next week in ex?change for the note.Edie agrees and delivers the note to Frank.Frank is

• A)an HDC,because he promised to perform services at a future date.
• B)not an HDC,because he did not take the instrument without notice.
• C)not an HDC,because he did not acquire the instrument in good faith.
• D)not an HDC,because he did not yet give value for the instrument.