To qualify as an HDC, a person must be the holder of a negotiable instrument that was taken for value.

Name: To qualify as an HDC, a person must be the holder of a negotiable instrument that was taken for value.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code (UCC), to qualify as a holder in due course (HDC), a person must meet certain criteria, which includes being the holder of a negotiable instrument that was taken for value, among other requirements. Therefore, the statement is true.

To Qualify as an HDC, a Person Must Be the Holder