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(SLO #5) In regards to negotiable instruments, which of the following statements is true as to a universal defense? A. It is valid only against
(SLO #5) In regards to negotiable instruments, which of the following statements is true as to a universal defense?
A. It is valid only against holders but not HDC (holders in due course). |
B. It is valid against both holders and HDC (holders in due course). |
C. It is valid only against HDC (holders in due course) but not holders. |
D. There is no such defense as to negotiable instruments. |
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