The party who has taken commercial paper in good faith and for value, before maturity, and without actual or constructive notice of any defects in the instrument is a (n):

Question

Quizplus · Accepted Answer

A holder in due course is someone who has taken commercial paper in good faith, for value, and without notice of any defects in the instrument. They have certain rights and protections, including the ability to enforce the instrument against prior parties, even if there are defects or problems with the underlying transaction.

The Party Who Has Taken Commercial Paper in Good Faith