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Question
Edie is the payee of a bearer instrumenta promissory note in the amount of $1,000. Frank offers to irrigate Edie's ranch next week in exchange for the note. Edie agrees and delivers the note to Frank. Frank isa. an HDC, because he promised to perform services at a future date.
b. an HDC, because the transferor was the original payee on the note.
c. not an HDC, because he did not acquire the instrument in good faith.
d. not an HDC, because he did not yet give value for the instrument.
Answer
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