Wyatt inherits a promissory note from Xena,his aunt.Wyatt has no no?tice that the note has been dishon?ored or is over?due.Wyatt has the rights of

Question

Quizplus · Accepted Answer

Since Wyatt has no notice of the dishonor or overdue status of the note, he can only be considered a holder and not an HDC. In order to be an HDC, the holder must have taken the note in good faith and for value, and also not have notice of any defenses or claims against the note.

Wyatt Inherits a Promissory Note from Xena,his Aunt