Final answer:
A holder in due course would not be able to enforce a note if the note maker used a defense of fraud or forgery.
Step-by-step explanation:
A holder in due course would probably not be able to enforce a note if the note maker used a defense of fraud or forgery.
Fraud is when the note maker intentionally misrepresents facts or makes false statements to induce the holder in due course to accept the note.
Forgery is when the note maker signs the note without proper authorization. In both cases, the note maker has engaged in illegal activities, which would invalidate the note and prevent the holder in due course from enforcing it.
For example, if the note maker forged the signature of another person on the note, the holder in due course would not be able to enforce the note because it was obtained through forgery.