BUSINESS ADMINISTRATION
BUSINESS LAW
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Defenses that are good against all plaintiffs suing on a negotiable instrument.
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Alteration Defenses
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Commercial Defenses
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Limited Defenses
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Universal Defenses
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Explanation:
Detailed explanation-1: -Universal defenses, also called real defenses, that can be asserted against all holders in due course include void contracts, fraudulent execution, infancy, material alterations, forged signatures, and duress.
Detailed explanation-2: -Universal (real) defenses consist of (1) fraud in the execution, (2) forgery, (3) minority, (4) material alteration, (5) illegality, and (6) serious duress.
Detailed explanation-3: -Real defenses are good against any holder, including an HDC. These are infancy, void obligations, fraud in the execution, bankruptcy, discharge of which holder has notice, unauthorized signatures, and fraudulent alterations.
There is 1 question to complete.