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In a Nonconsumer Transaction,a Holder in Due Course Takes the Instrument

Question 13

Multiple Choice

In a nonconsumer transaction,a holder in due course takes the instrument free from:


A) all claims on the part of any person.
B) all defenses of any party with whom he has not dealt, except for a limited number of defenses that are available against anyone, including a holder in due course.
C) the defense of incapacity, duress, or illegality that renders the obligation void.
D) Both (a) and (b) are correct.

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