Asked by
Nikhil Rakheja
on Nov 01, 2024Verified
Assume there is a material alteration,but the holder took it in good faith and for value.The holder has a real defense and is not required to pay on the instrument.
Real Defense
A legal defense that is valid against all the world, including bona fide purchasers or holders in due course.
Good Faith
The honest intention to act without taking an unfair advantage over another party, often mentioned in contracts and negotiations.
- Determine and contrast real versus personal defenses pertinent to negotiable instruments.
Verified Answer
ES
Learning Objectives
- Determine and contrast real versus personal defenses pertinent to negotiable instruments.