To complete some home repairs,Kenton purchases several power tools from Quality Plus by borrowing money from QP Sales Finance,an affiliate of Quality Plus.The promissory note Kenton signs:
A) must contain an FTC notice which prevents a holder of the note from being a holder in due course.
B) must set forth in the instrument that it is not valid if the borrower's signature is forged or if the borrower's debts are subsequently discharged in bankruptcy.
C) will allow the holder to be a holder in due course since it is a negotiable instrument.
D) is the result of an illegal credit contract because a lender must be independent of the seller of goods.
Correct Answer:
Verified
Q35: A holder in due course:
A) inherits whatever
Q36: Negotiation means an instrument has been transferred:
A)
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