To acquire the preferential rights of a holder in due course, a person must either meet the requirements of the Code or must "inherit" these rights under the shelter rule.
Correct Answer:
Verified
Q2: Whether a holder has notice is determined
Q3: Buying an instrument at a discounted price
Q5: Under general contract law, an antecedent debt
Q6: To become a holder in due course
Q7: Kenneth deposits three checks for $275, $150,
Q8: To be a "holder," one must actually
Q9: Otis, a holder in due course, buys
Q10: An executory promise may constitute the giving
Q11: Constructive notice through public filing or recording
Q26: A check is made payable "to the
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