Question: A person who is an innocent purchaser of a negotiable note for value without knowledge of any defect, is customarily called:

Written by Posted On Sunday, 08 December 2019 05:00

(A) A holder in due course
(B) An assignor
(C) A receiver in trust
(D) An endorser in blank


Answer:  (A)  He has accepted the note in good faith as payment before it was due with the understanding that it has no defects.

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