Final answer:
Option 4: Holder in due course is the correct answer because under the UCC, a holder in due course is the one who has given value for the instrument, taken it in good faith, and without notice of any defects.
Step-by-step explanation:
Under the Uniform Commercial Code (UCC), a holder in due course is a holder who has taken an instrument for value, in good faith, and without notice of certain claims or defenses. To specify which holders have given value for the instrument, let's consider the options provided:
- Bona fide holders may refer to holders who have obtained the instrument in good faith, but this does not necessarily mean they have given value.
- Accommodation holders are those who sign the instrument as a favor to the borrower, and they typically do not give value for the purpose of becoming holders in due course.
- Ordinary holders hold the instrument but may not meet all the criteria of a holder in due course, including giving value.
- Holder in due course is the correct term for a holder who has given value for the instrument, taken it in good faith, and without notice of any defects. This is the type of holder that has met the criteria under the UCC to be afforded special rights and protections.
Therefore, the answer to the question is Option 4: Holder in due course.