TRUE/FALSE. according to the shelter principle, if a holder cannot attain holder-in-due course status, the holder cannot acquire the rights and privileges of a holder in due course even if the item is being transferred from a holder in due course.

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19-12-2022
Law

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TRUE/FALSE. according to the shelter principle, if a holder cannot attain holder-in-due course status, the holder cannot acquire the rights and privileges of a holder in due course even if the item is being transferred from a holder in due course.

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contexto065 contexto065 · Answer 1 · 2022-12-21T23:04:53-05:00

This statement is False, the holder cannot acquire the rights and privileges of a HDC even if the item is being transferred from a HDC.

Any rights that the transferor held in an object are transferred to the transferee when ownership of an item is transferred from one person to another. Therefore, if an item is being transferred from an HDC, a holder who is unable to achieve HDC status can gain the rights and privileges of an HDC. A holder in good standing retains the negotiable instrument free from any past holders' title defects. A person who legitimately acquires a negotiable instrument for payment that is still owed is known as a holder in due course (HDC). All earlier parties cannot be sued by a holder. Any prior parties may be sued by a holder in good faith. The instrument may or may not have been acquired in a sincere effort.

Know more about the holder in due course at: https://brainly.com/question/29760510

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