Question: Edna receives a promissory note, gives value for it , receives it in good faith, and does not know of any defects. Edna does know
Edna receives a promissory note, gives value for it receives it in good faith, and does not know of any defects. Edna does know there is a claim to this promissory note. Is Edna an HDC
No because you cannot become an HDC of a promissory note.
No because a holder who has notice of any claim to an instrument or defense against it cannot become an HDC
Yes, because Edna gave value for the promissory note, received it in good faith, and does not know of any defects.
Yes, because a holder who has notice of any claim to an instrument or defense against it can become an HDC
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