David makes and delivers a promissory note for $500 to the order of Kerry, who indorses the note and delivers it to Stan in payment of an outstanding debt Kerry owes him. Stan has given value as far as the Code requirements for a holder in due course.

Question

Quizplus · Accepted Answer

Stan has given value by accepting the promissory note in payment of an outstanding debt, which meets the Uniform Commercial Code's requirements for a holder in due course.

David Makes and Delivers a Promissory Note for $500 to the Order