Which statement is true regarding the status of Nate?
A)He is not a holder nor is he a holder in due course because he did not provide value.
B)He is not a holder in due course because he did not provide value.
C)The fact that a gift was involved does not prevent Nate from being a holder in due course so long as other requirements are satisfied.
D)The fact that a gift was involved does not prevent Nate from being a holder in due course so long as other requirements are satisfied and Nate is not a minor.
E)He is not a holder because he did not provide value.

Question

Quizplus · Accepted Answer

A)A party who receives a negotiable instrument as a gift or through mistake will be
a holder instead of an HDC.
B)A party who receives a negotiable instrument as a gift or through mistake will be a holder instead of an HDC.
C)A party who receives a negotiable instrument as a gift or through mistake will be a holder instead of an HDC.
D)A party who receives a negotiable instrument as a gift or through mistake will be a holder instead of an HDC.
E)A party who receives a negotiable instrument as a gift or through mistake will be a holder instead of an HDC.

Which Statement Is True Regarding the Status of Nate