Which of the following is not a requirement for a person to be considered a holder in due course?
A)The person must have exercised due diligence in determining whether there were certain claims or defenses against the instrument's payment.
B)The person must have paid value for the instrument.
C)The person acquired the instrument in good faith.
D)The instrument cannot bear facial irregularities.

Question

Quizplus · Accepted Answer

Basically,a holder in due course is a person who has good title to the instrument,paid value for it,acquired it in good faith,and had no notice of certain claims or defenses against payment.In addition,the instrument cannot bear facial irregularities (evidence of forgery or alteration or questions concerning its authenticity).

Which of the Following Is Not a Requirement for a Person