Against whom can the maker of a note successfully assert a personal defense?

Question

Quizplus · Accepted Answer

A maker of a note can successfully assert a personal defense against both the payee and a holder who is not a holder in due course. A personal defense is a defense that is unique to the maker's relationship with a particular individual. A holder in due course, on the other hand, takes a note free from personal defenses. Therefore, the maker cannot assert personal defenses against a holder in due course.

Against Whom Can the Maker of a Note Successfully Assert