Asked by Dominique Handy on May 12, 2024
Verified
Which of the following sections of the Uniform Commercial Code establishes the four requirements for becoming a holder in due course?
A) 1-202
B) 2-302
C) 2A-302
D) 3-302
E) 4-202
Holder in Due Course
A legal term for a person who has acquired a negotiable instrument in good faith and for value, and thus has certain protections.
Uniform Commercial Code
A comprehensive set of laws that governs commercial transactions in the United States, aiming to standardize and simplify the process across state lines.
Requirements
Needs or conditions that must be met or complied with, often specified in a contract or by a product's design.
- Ascertain the qualifications required for a party to become recognized as a holder in due course.
Verified Answer
Learning Objectives
- Ascertain the qualifications required for a party to become recognized as a holder in due course.
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