Which of the following is not required in order for someone to be a holder in due course of a negotiable instrument?
A) take the instrument directly from the maker or drawer
B) take the instrument in good faith
C) take the instrument without notice of any defenses
D) take the instrument for value
E) take the instrument without apparent evidence of forgery, alterations, or irregularity

Question

Quizplus · Accepted Answer

Taking the instrument directly from the maker or drawer is not a requirement for being a holder in due course. Rather, the important factors are taking the instrument for value, in good faith, and without notice of any defenses or irregularities.

Which of the Following Is Not Required in Order for Someone