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Carrie owed Charlotte $20,000. Carrie offered Charlotte a promissory not (a negotiable instrument) worth $200,000 upon maturity, which occurred in six months, as payment for the debt. Carrie had actually stolen the promissory note from her friend Sam. Charlotte probably won't qualify as a holder in due course because......
A) Charlotte didn't give value for the instrument
B) Charlotte didn't take the instrument in good faith
C) Charlotte should have known the instrument was stolen
D) the instrument was stolen from Sam
Please answer with an explanation.
Edited by XXXXXXXX on 2/16/2006 at 3:01 PM
Submitted: 1373 days and 13 hours ago.
Category: Legal
Value: $2
Status: CLOSED
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