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30Resources Inc. receives a check from Steel Products Company and indorses it with a stamped imprint of its name on the back. This converts the check to

a. a bearer instrument.

b. a non-transferable instrument.

c. a special indorsement.

d. an order instrume

32

Dani signs a note payable to Equity Credit, which transfers the note by assignment to Finance Collection. With respect to any defenses that Dani could have raised against Equity, most likely Dani can

a. no longer present any defense to payment.

b. claim more defenses against Finance than Equity.

c. raise those defenses against Finance.

d. not assert those defenses against Finance.

36Durable Goods Inc. negotiates an order instrument to Equity Finance by delivery

a. with formal presentment in response to a demand by the payee.

b. without more.

c. with an assignment of its rights under a contract.

d. with any necessary indorsement

43Kris transfers a note, on which Lin is the maker, to Mari, who takes it for value and in good faith. Mari knows that Kris breached the contract underlying the note, giving Lin a defense against payment. With respect to this note, Mari is

a. an ordinary holder in due course.

b. a knowledgeable holder in due course.

c. a knowledgeable acceptor.

d. an ordinary holder.