2. Answer each of the following with respect to a holder in due course: a. (a) What is holder in due course status as it relates to a negotiable instrument? b. (b) Why is holder in due course status significant? c. (c) Provide a specific example of when a holder in due course would be free from a defense when an ordinary holder would not be? d. (d) Provide a specific example of when a holder in due course would not be free from a defense. Note: In answering parts (c) and (d), you should not simply identify a defense that a holder in due course is free from and subject to; you must create an example of facts or circumstances to illustrate those defenses.