Which of the following is False with regard to a holder in due course?
A) A holder in due course cannot be an immediate party.
B) A holder in due course is in a better position to be paid by the drawer or maker of the instrument than is an immediate holder, because there are fewer defences against his claim for payment.
C) A person cannot be a holder in due course if he knew the instrument had been obtained by the payee by fraud.
D) A person cannot be a holder in due course if he acquired the instrument in bad faith; e.g., he tricked the person into giving him the cheque.
E) A holder in due course is the same as the drawee or acceptor.
Correct Answer:
Verified
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