Which of the following is not an element that a party

Question

Which of the following is not an element that a party must meet to be considered a holder in due course?

A. The party must be a holder of a complete and authentic negotiable instrument.

B. The holder must take the instrument for value.

C. The holder must take the instrument in good faith.

D. The holder must take the instrument without notice of defects.

E. The holder must either pay for the instrument or receive it as a gift.

Answer

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