[jeff]

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[stokey45]

The correct answer is “A” a Holder only..

A holder is a person with good title to the commercial paper.

A holder is due course (HDC) is a holder who takes the paper for value, in good faith, and without notices of any defenses to or claims of ownership on the instrument.

But there is also the Shelter Doctrine which is a “Holder thru a Holder in due course.” This means that even though the transferee himself might not qualify as an HDC, he can claim the rights of an HDC who held the commercial paper before him.

I chose “C” because of this reason. Was I supposed to assume that his sister was not a HDC. She knowingly transferred a dishonored draft to her brother? Maybe I am reading too much into this question. On the real exam do you think they will tell us that the person prior was a HDC?

[UCMCPA]

I don't think you can technically be a holder and HDC at the same time.. it's one or the other.

FAR - 84
AUD - 94
REG - 86
BEC - 86

[UCMCPA]

I don't think you can technically be a holder and HDC at the same time.. it's one or the other.

FAR - 84
AUD - 94
REG - 86
BEC - 86

[UCMCPA]

As for the day before the exam, I will do MCQ's… read over my least comfortable topics, then relax the night before.

FAR - 84
AUD - 94
REG - 86
BEC - 86

[UCMCPA]

As for the day before the exam, I will do MCQ's… read over my least comfortable topics, then relax the night before.

FAR - 84
AUD - 94
REG - 86
BEC - 86

[Kenada]

Hmmm Its A … I would have picked B as well.. 🙁

FAR 05/27/14; 786/110 - Done !

[Kenada]

Hmmm Its A … I would have picked B as well.. 🙁

FAR 05/27/14; 786/110 - Done !

[Qlad]

I think it is A too for the same reason that it is a gift and value was not given….

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Qlad]

I think it is A too for the same reason that it is a gift and value was not given….

FAR 72,71,81 🙂
AUD 64,71, 72, 75 🙂 I'm done !!!
REG 73, 74, 74, 84 🙂
BEC 76 🙂

[Kenada]

Is that the reason why its A instead of B. It was because it was a gift and no value was given for it ?

FAR 05/27/14; 786/110 - Done !

[Kenada]

Is that the reason why its A instead of B. It was because it was a gift and no value was given for it ?

FAR 05/27/14; 786/110 - Done !

[OCDisME]

I'm not sure…but I'm thinking that since the question did specifically state that sister was an HDC, we cannot assume that she is.

Becker Online - IL Candidate

FAR: 85
AUD: 85
BEC: 78
REG: 90

[OCDisME]

I'm not sure…but I'm thinking that since the question did specifically state that sister was an HDC, we cannot assume that she is.

Becker Online - IL Candidate

FAR: 85
AUD: 85
BEC: 78
REG: 90

[OCDisME]

@stokey: What review material are you using?

@Qlad: Same question for you.

I'm seeing lots of tricks in some of the questions you guys are posting and feel that Becker may not be giving me enough preparation. But they have such a high pass rate and I've passed with Becker on the other 3 exams, am I worrying too much?!

Becker Online - IL Candidate

FAR: 85
AUD: 85
BEC: 78
REG: 90

[OCDisME]

@stokey: What review material are you using?

@Qlad: Same question for you.

I'm seeing lots of tricks in some of the questions you guys are posting and feel that Becker may not be giving me enough preparation. But they have such a high pass rate and I've passed with Becker on the other 3 exams, am I worrying too much?!

Becker Online - IL Candidate

FAR: 85
AUD: 85
BEC: 78
REG: 90

[Author]

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