A holder in due course (HIDC) is a holder who takes an authentic-appearing negotiable instrument: a. for value b. in good faith c. without notice that the instrument is overdue d. All the above A "defense" prevents the enforcement of a negotiable instrument. Examples of 'real" defenses include all the following except a. Forgery b. The obligor's infancy c. Acquisition of lost or stolen bearer instruments d. Duress at the time of making the instrument An example of a personal" defense, which cannot protect the maker against the claims by an HIDC, is: a. Forgery b. The obligor's infancy c. Acquisition of lost or stolen bearer instruments d. Duress at the time of making the instrument Various parties can find themselves either primarily or secondarily liable to meet t the instrument. Which of the following is an example of a party secondarily liable? a. The party must pay on an instrument as it existed when drafted by the drawer b. The party must pay on an instrument as it existed when drafted by the maker. c. The party must pay on an instrument as it existed when accepted by the drawee. d. The party has an obligation to pay when the person seeking payment first demanded payment from the primary party, and the party in question received notice that the primary party refused to pay the instrument