Otis, a holder in due course, buys a note made out by Joe to Southern Appliance.Even though Joe's debt was discharged through bankruptcy, Otis can collect on the note.
Correct Answer:
Verified
Q4: To acquire the preferential rights of a
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
Q10: An executory promise may constitute the giving
Q11: Constructive notice through public filing or recording
Q12: A holder does not include a person
Q14: Sue makes a note payable to the
Q21: The "value" requirement of a holder in
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