Question

2 Hash B-L GEMINDTAP Q Search this cou Holder in due Course and Holder Through an HDC Drag and drop the appropriate words to complete the following: An HDC Must Have Given Value for the Instrument and a Holder Takes an Instrument for Value if the Holder Has Done Any of the following: preexisting lien irrevocable promise negotiable a. Performed the transferred. for which the instrument was issued or in the instrument, b. Acquired a security interest or other _ excluding a lien obtained by a judicial proceeding. c. Taken the instrument in payment of, or as security for, a obligation (sometimes called an antecedent claim). d. Given a instrument as payment. commitment (such as a letter of credit) as e. Given an payment.

Answer 1

Answer:

a. Performed the promise for which the instrument was issued or transferred

b. Acquired a security interest or other lien in the instrument, excluding liens obtain by judicial process;

c. Taken an instrument in payment of, or as security for a preexisting obligation, (sometime called an antecedent claim).

d. Giving a negotiable instrument as payment;

e.  Giving an irrevocable commitment (such as a letter of credit) as payment.