The lack or failure of consideration is a personal defense and can be used to avoid payment to an ordinary holder, an HDC, and a holder through an HDC.

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Cristal Joseph · Accepted Answer

Final Answer : False, Explanation :  The lack or failure of consideration is a personal defense and can be used to avoid payment to an ordinary holder, but it cannot be used against a holder in due course (HDC) or a holder through an HDC, as HDCs are protected against personal defenses.

The lack or failure of consideration is a personal defense and can be used to avoid payment to an ordinary holder, an HDC, and a holder through an HDC.

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