It is false that holder cannot become an hdc if he or she has notice of any claim to the instrument or defense against it
The holder cannot become an HDC if he or she may notice of any claim to the instrument or the defense against it. Under the fictitious payee of the rule, the payee's indorsement is not to be treated as a forgery. An imposter's is indorsement on an instrument is never been effective against its drawer or the maker.
The Holder in Due Course (HDC) doctrine is a rule in the commercial law that also protects a purchaser of debt, where the purchaser is also assigned the right to receive the debt of the payments.
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