Janice gives Chandler a promissory note made out in her favor, signed by Joey for $1,000. When the note comes due, Joey asserts a personal defense to avoid liability on the note. Chandler isn't a holder in due course and thus doesn't benefit from the protections afforded a holder in due course, because Chandler 

A. should have known a defense existed to the note. 

B. didn't take the note in good faith.

 C. should have known the note would be dishonored.

 D. didn't take the note for value.

Answer rating: 100% (QA)

Chandler isnt a holder in due course and thus doesnt benefi... View the full answer