Which of the following is not a universal defense available against all holders?
A) fraud as to the nature or essential terms of the instrument
B) forgery or lack of authority
C) fraud in the inducement
D) duress depriving control

Question

Quizplus · Accepted Answer

Fraud in the inducement is a personal defense, not a universal defense. It can be used against holders in due course only in limited situations, unlike fraud as to the nature or essential terms of the instrument, forgery, lack of authority, and duress, which are universal defenses applicable against all holders.

Which of the Following Is Not a Universal Defense Available