To be found a holder in due course, a transferee must:
A) be in possession of an instrument in the form of either a draft or a check (but not a note) made out "to bearer "
B) have agreed in writing not to be bound as a contractual assignee
C) simply be in possession of a negotiable instrument
D) provided a signed unconditional writing, promising (or ordering to pay) , at a specified time in the future and made out "to order" or "to bearer "
E) none of the other choices
Correct Answer:
Verified
Q229: The _ agrees to make the payment,
Q230: The _ issues or creates the document
Q231: The one who issues or creates the
Q232: The _ agrees to make the payment,
Q233: Under Article 3 of the UCC, a
Q235: A "draft drawn on a bank and
Q236: With negotiable instruments, the party to receive
Q237: The one who agreed to make a
Q238: The one who receives payment from a
Q239: With negotiable instruments, the party to receive
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents