Assume there is a material alteration,but the holder took it in good faith and for value.The holder has a real defense and is not required to pay on the instrument.

Question

Quizplus · Accepted Answer

According to the Uniform Commercial Code (UCC), if a material alteration has been made to an instrument, the instrument is considered void except for a holder in due course or a holder who takes the instrument in good faith and for value. The holder in this case has a real defense and is not required to pay on the instrument.

Assume There Is a Material Alteration,but the Holder Took It