Under the "close-connection" doctrine,a holder has taken so many instruments from its transferor or is so closely connected with the transferor that any knowledge the transferor has is deemed transferred to the holder,preventing holder in due course status.

Question

Quizplus · Accepted Answer

Under the "close-connection" doctrine, a holder who has taken a significant number of instruments from their transferor or is closely associated with the transferor is considered to have transferred any knowledge the transferor has to the holder, which prevents the holder from achieving holder in due course status.

Under the "Close-Connection" Doctrine,a Holder Has Taken So Many Instruments