Idina wants to buy a promissory note from Jill. The note is due on April 1.a.m. on April 1 To become an HDC,Idina must buy the note
A)before midnight on April 1.
B)before noon on April 1.
C)before 8:00
D)within thirty days of April 1.

Question

Quizplus · Accepted Answer

To become a holder in due course (HDC), Idina must purchase the promissory note before the due date, which is April 1. Therefore, she must buy the note before midnight on April 1 to be considered an HDC. Option B and C are not correct as they specify a time of day, but the due date is in the morning. Option D is also incorrect because the question states that the due date is April 1, so purchasing the note within 30 days of that date would not satisfy the requirement of being an HDC.

Idina Wants to Buy a Promissory Note from Jill