Edie is the payee of a bearer instrument¾a promissory note in the amount of $1,000. Frank offers to irrigate Edie's ranch next week in exchange for the note. Edie agrees and delivers the note to Frank. Frank is
A. an HDC, because he promised to perform services at a future date.
B. not an HDC, because he did not take the instrument without notice.
C. not an HDC, because he did not acquire the instrument in good faith.
D. not an HDC, because he did not yet give value for the instrument.
Answer: D
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