Which of the following is false regarding the ways by which a holder may take an instrument for value?
A) The holder performs the promise for which the instrument was issued or has started performance.
B) The holder acquires a security interest or other lien in the instrument.
C) The holder takes the instrument for payment of a preceding claim.
D) The holder exchanges the instrument for another negotiable instrument.
E) The holder exchanges the instrument for an irrevocable obligation to a third party.
Correct Answer:
Verified
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