× Didn't find what you were looking for? Ask a question
Top Posters
Since Sunday
g
3
3
2
J
2
p
2
m
2
h
2
s
2
r
2
d
2
l
2
a
2
Home Q & A Board Humanities Legal Studies
New Topic  
nespinal nespinal
wrote...
Go to Answer
Posts: 599
Rep: 0 0
6 years ago
If an instrument is found to be negotiable under the UCC, it may be freely traded without concern for any existing contract responsibilities if the instrument is in the possession of a holder in due course. To be a holder in due course, one must:
 a. accept the transfer of the instrument with the same contract responsibilities as the person assigning the instrument
  b. give value for the instrument, accept it without knowledge of any defects (for example, that it is overdue), and take the instrument in good faith
  c. present himself as having knowledge or skill specialized to the transaction and regularly deal in that kind of transaction
  d. demonstrate that the instrument falls within the scope of Article 3 of the UCC, that the transaction is not for the sale of a tangible product, and that any defects in the title to the goods involved in the transaction is not known to the party
  e. none of the other choices, there are no special requirements
Read 54 times
1 Reply
Replies
Answer verified by a subject expert
DCAV1DCAV1
wrote...
#1
Top Poster
Posts: 1097
Rep: 3 0
6 years ago
Sign in or Sign up in seconds to unlock everything for free
1

Related Topics

nespinal Author
wrote...

6 years ago
this is exactly what I needed
zsc999
wrote...

Yesterday
Thank you, thank you, thank you!
Turboturner
wrote...

2 hours ago
I appreciate what you did here, answered it right Smiling Face with Open Mouth
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1065 People Browsing
 114 Signed Up Today
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Live Chat
Related Images
  
 2480
  
 9374
  
 1038
Your Opinion
Which industry do you think artificial intelligence (AI) will impact the most?
Votes: 352
Previous poll results: How often do you eat-out per week?