4. A party.' who is a \"holder in due course" of a negotiable instrument: a. Has title to the instrument. but risks defenses available against the original part3.r to the instrument. b. Has title to the instrument free and clear of defenses available against the original party to the instrument. e. Does not have title to the instrument. but is likely.' to have title to the instrument in the foreseeable future. d. Is required to wait for a determined period of time before it can present the negotiable instrument to a bank. Chapter: 24.1 Difficulty: 2 Type: Conceptual