Question: According to the Uniform Commercial Code ( UCC ) , a negotiable instrument is taken for value in all but which of the following circumstances?

According to the Uniform Commercial Code (UCC), a negotiable instrument is taken for value in all but which of the following circumstances?
Multiple Choice
The holder recelves the negotiable instrument as a holiday present.
An irrevocable obligation is given by the holder in payment
A promise to perform has been fullilied by the holder.
A negotiable instrument is given by the holder in payment.
According to the Uniform Commercial Code ( UCC )

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