Value means that the holder of an instrument
A)has already done something in exchange for the instrument.
B)cannot transfer the instrument to another person.
C)is not in physical possession of the instrument.
D)believes the transaction was honest in fact.

Question

Quizplus · Accepted Answer

Value means that the holder of an instrument has already done something in exchange for the instrument. This could be providing goods, services, or money in exchange for the instrument. The value given in exchange gives the instrument its worth and makes it negotiable.

Value Means That the Holder of an Instrument