Value has been given by the holder if he or she acquires a security interest in or lien on the instrument.

Name: Value has been given by the holder if he or she acquires a security interest in or lien on the instrument.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code (UCC), a holder gives value if they take an interest in the instrument through payment, exchange, or gift. This interest can be in the form of a security interest or a lien, among others.

Value Has Been Given by the Holder If He or She