A Holder Does Not Take an Instrument for Value If

question 67

True/False

A holder does not take an instrument for value if he or she gives a negotiable instrument as payment.

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Definitions:

Token Economy

A behavior modification system that uses tokens as reinforcing agents for desired behaviors, which can later be exchanged for various rewards.

Operant Conditioning

A behavior adjustment mechanism that operates through the distribution of incentives or the imposition of sanctions.

Systematic Desensitization

A therapy technique used to reduce phobias through gradual exposure to the feared object or situation combined with relaxation exercises.

Systematic Desensitization

A behavioral therapy technique that gradually exposes an individual to an anxiety-producing stimulus while teaching relaxation techniques to overcome the anxiety.