Under which of the following UCC requirements is a holder considered a "holder in due process, " given that the holder performs the agreed-upon promise in a negotiable instrument?
A)taking in good faith requirement
B)taking for value requirement
C)taking without notice of defect requirement
D)no evidence of forgery, alteration, or irregularity requirement

Question

Quizplus · Accepted Answer

According to the UCC, a holder who takes a negotiable instrument for value is considered a "holder in due course" and has certain legal rights and protections. This requirement is outlined in UCC 3-302. However, it's worth noting that the term "holder in due process" is not used in the UCC, so be careful of similar-sounding terms when studying for the exam.

Under Which of the Following UCC Requirements Is a Holder