Asked by Ariyon Powell on May 16, 2024
Verified
Personal defenses to the payment of an instrument include:
A) Breach of contract or warranty
B) Fraud in the inducement
C) Illegality
D) Breach of contract or warranty,fraud in the inducement,and illegality
E) Illegality and lack or failure of consideration,but not breach of contract or warranty
Personal Defenses
Legal defenses that can be used to avoid enforcement of a contract or negotiation due to personal circumstances, such as minority, incapacity, or duress.
Illegality
The quality or condition of being contrary to law or forbidden by law.
Breach Of Contract
The violation of any term of a contract without a legitimate legal excuse, which allows the other party to the contract to seek legal remedies.
- Learn about personal and real defenses applicable to negotiable instruments, and how they affect holder in due course status.
Verified Answer
AK
Ananya KommareddyMay 21, 2024
Final Answer :
D
Explanation :
Personal defenses to the payment of an instrument include breach of contract or warranty,fraud in the inducement,and illegality.
Learning Objectives
- Learn about personal and real defenses applicable to negotiable instruments, and how they affect holder in due course status.