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Business Law II 5. C&S Bank sued Johnson to collect a $50,000 no Johnson had signed then had transferred the note to the bank as

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5. C&S Bank sued Johnson to collect a $50,000 no Johnson had signed then had transferred the note to the bank as security for a $20,000 loan. Johnson seeks to assert a defense of fraud and lack of consideration. Is the bank a holder in due course? Why or why not

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