Which of the following is a "real" defense that is good against a holder in due course of a note?
A)The maker of the note is 15 years old.
B)The note was procured by the payee's threat to prosecute the maker for drug dealing.
C)No consideration was given for the note.
D)The maker was in a seriously delusional state when he completed the note (but had not been declared insane or institutionalizeD).

Question

Quizplus · Accepted Answer

Real defenses include minority or infancy,which under state law makes an instrument void or voidable.For example,if Mark Miller,age 17,signs a promissory note as maker,he can use his lack of capacity to contract as a defense against paying it even to a holder in due course.

Which of the Following Is a "Real" Defense That Is