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Which of the following is not a requirement for becoming a holder in due course? Multiple Choice The holder must take the instrument for value.

Which of the following is not a requirement for becoming a holder in due course?

Multiple Choice

  • The holder must take the instrument for value.

  • The holder must take the instrument without notice of defects.

  • The party must be a holder of a complete and authentic negotiable instrument.

  • The holder must take the instrument in good faith.

  • The holder must either pay for the instrument or receive it as a gift.

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