A Claim in Recoupment

question 6

Multiple Choice

A claim in recoupment:

• A) is a claim of the original payee against the obligor of the instrument.
• B) must arise from the transaction that gave rise to the instrument.
• C) is actually not an offset to liability, but a defense to an instrument.
• D) can make a person a holder in due course even if he knows about it before the negotiation.

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Definitions:

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Learning that occurs by observing the behavior of others and the outcomes of those behaviors.

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The internalized set of moral values, principles, and norms that guide an individual's ethical behavior and decision-making processes.

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