For purposes of negotiable instruments, "value" is defined as:
A)the actual performing of the agreed promise.
B)the acquiring of a security interest or lien, other than a judicial lien, in the instrument.
C)the taking of the instrument in payment of or as security for an antecedent debt.
D)the giving of either a negotiable instrument or an irrevocable obligation to a third party.
E)All of the above.

Question

Quizplus · Accepted Answer

"Value" in the context of negotiable instruments includes all the options listed: performing an agreed promise, acquiring a security interest, taking an instrument for an antecedent debt, and giving a negotiable instrument or irrevocable obligation.

For Purposes of Negotiable Instruments, "Value" Is Defined As