For an HDC to take an instrument "in good faith," how does the UCC define good faith?
A) Using the proper degree of caution that an objective, reasonable holder would have.
B) Whether the holder himself acted honestly when taking the instrument.
C) Under reasonable commercial standards of fair dealing.
D) Whether the holder himself acted reasonably when taking the instrument.
E) Good faith is not defined; it is left to the judgment of the individual HDC.

Question

Quizplus · Accepted Answer

Under reasonable commercial standards of fair dealing.

For an HDC to Take an Instrument "In Good Faith