Which is a true statement?

Question

Quizplus · Accepted Answer

All three statements are true. Real defences, such as lack of delivery or forgery of the instrument, can be raised against holders, holders in due course, and endorsers. Defect of title defences, such as prior payment or a competing claim on the instrument, can be raised against holders and endorsers. Personal defences, such as fraud or breach of contract, can be raised against holders and against endorsers if they are an immediate party to the transaction.

Which Is a True Statement