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The negotiation of a negotiable instrument to a holder in due course Is now illegal in most states allows the holder in due course to take the instrument free of personal defenses allows the holder in due course to take the instrument free of real defenses allows the holder in due course to take the instrument free of personal and real defenses Which of the following is not a requirement for HDC status? Taken in good faith Taken without notice of a claim or defense taken from the maker payable on demand or at a definite time When there is a PMSI in consumer goods The security interest can only be perfected by filing a financing statement The security interest can never be perfected The security interest is automatically perfected the security interest is void In order to satisfy the writing requirement of the Statute of Frauds, the writing must include all of the following except Place of delivery Quantity Signature of the party against whom enforcement is sought Language that a reasonable person would believe constitutes an intent to form a contract Able Store orders shoes from KNJ Supply. KNJ mistakenly ships the incorrect shoes, Which Able rejects and returns via JJJ Shipping Company. When en route, the shoes are stolen. Who bears the loss? Able Both JJJ and Able KNJ Supply Question 31 2.5pts Collateral that includes later acquired property is Illegal in most states a floating lien a fixture a PMSI in consumer goods A seller offers to sell goods to the buyer. The buyer's acceptance contains an additional term not contained in the seller's offer. What is the result? No contract exists because the buyer made a counter offer A contract exists but is unenforceable because it is not in writing No contract exists because the buyer added an additional term A contract exists even though the buyer made an additional term