Real defenses include all but:
A) minority of the maker.
B) fraudulent alteration.
C) forgery of the instrument.
D) theft of a bearer instrument.

Question

Quizplus · Accepted Answer

Real defenses are universally valid against all holders of the instrument, including HDCs (Holders in Due Course), and typically include defenses such as minority of the maker, fraudulent alteration, and forgery. Theft of a bearer instrument, however, does not constitute a real defense against a holder in due course, as possession of the bearer instrument typically allows the possessor to enforce it.

Real Defenses Include All But