The Claims and Defenses to Payment of an Instrument That

question 2

Multiple Choice

The claims and defenses to payment of an instrument that go to the validity of the instrument are called _____.

• A) real defenses
• B) personal defenses
• C) claims in recoupment
• D) claims to an instrument

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Definitions:

License

A legal permission granted by a competent authority allowing a party to engage in a particular activity or to use a specific piece of intellectual property.

Market

A place or mechanism where buyers and sellers interact to trade goods, services, or securities, determining prices through supply and demand.

Franchisee

An individual or company that is granted the right by a franchisor to operate a business under the franchisor's trademark and business model.

License

A legal permission granted by an authority to conduct business, use intellectual property, or undertake certain activities.