A holder takes an instrument for value if the holder has performed the promise for which the instrument was issued.

Name: A holder takes an instrument for value if the holder has performed the promise for which the instrument was issued.
Brand: Quizplus
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Question

A holder takes an instrument for value if the holder has performed the promise for which the instrument was issued.​

Quizplus · Accepted Answer

A holder taking an instrument for value means that the holder has given consideration (performed a promise) in exchange for the instrument. Therefore, the statement is true.

A Holder Takes an Instrument for Value If the Holder