For an ordinary holder to become an HDC,the holder must have acted honestly in the process of acquiring the instrument.

Name: For an ordinary holder to become an HDC,the holder must have acted honestly in the process of acquiring the instrument.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code (UCC), in order for a holder to become a holder in due course (HDC), they must have acted in good faith and without knowledge that the instrument is void or fraudulent. This includes honesty in the acquisition process.

For an Ordinary Holder to Become an HDC,the Holder Must