Joey,in Good Faith and for Value,gets from Kit a Negotiable

question 32

Multiple Choice

Joey,in good faith and for value,gets from Kit a negotiable bearer in?stru?ment.Joey does not know that Kit stole the instrument.Joey is

• A)an HDC.
• B)not an HDC,because Kit did not acquire the instrument for value.
• C)not an HDC because Kit did not acquire the instrument in good faith.
• D)not an HDC because the instrument is a bearer instrument.

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Definitions:

Available-For-Sale

A classification for financial assets indicating that they are available for sale before maturity or when they are not classified in other categories.

Brokerage Fees

Charges imposed by a broker for facilitating transactions such as purchases, sales, and advice on these transactions.

Transfer Taxes

Taxes imposed by a state or local government on the transfer of ownership of property, such as real estate, from one party to another.

Available-For-Sale

A classification for financial assets, indicating that the asset can be sold in the future, and is not held for trading or intended to be held to maturity.