In good faith and for value, Joya gets from Kyle a negotiable bearer instrument. Joya does not know that Kyle stole the instrument. Joya is

A) an HDC.
B) not an HDC, because Kyle did not acquire the instrument for value.
C) not an HDC, because Kyle did not acquire the instrument in good faith.
D) not an HDC, because Kyle transferred the instrument without notice.

HDC

Holder in Due Course, a term in commercial law referring to a party that has acquired a negotiable instrument in good faith and for value, affording them certain protections.

Bearer Instrument

A financial document that entitles the holder to receive the assets or value stated on the document, with no need to prove ownership.

Stole

The past tense of steal, referring to the act of taking something without permission with the intent to permanently keep it.