Study each of the following case. Answer the questions that follow with Yes or No.

Laredo found a checkbook belonging to Waldron, drew a check, signed Waldron’s name to it, and gave it to Kelly. The payee, Kelly, endorsed the check to a holder in due course, who presented it to the bank for payment. The bank refused to pay the check.
a. Will Waldron’s account be charged for the check because he lost the checkbook?
b. Is forgery a real defense, and may it be used against the claims of a holder in due course?
c. Is a holder in due course protected against all types of defenses?