Cyrus takes a $700 check to Wheeling State Bank, where he asks for $100 in cash back and he deposits the remaining balance of $600. Wheeling State Bank has "given value" t o the extent of $100 according to the requirements of holder in due course status.

Question

Quizplus · Accepted Answer

The bank has given value to the extent of $100 because it provided cash to Cyrus, which is a form of consideration, fulfilling part of the requirements for holder in due course status.

Cyrus Takes a $700 Check to Wheeling State Bank, Where