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Holder in due course - Wikipedia, the free encyclopedia
It is often inconvenient to use cash as payment in certain transactions (e.g., those involving large sums of money), but ordinary promises to pay are unsuitable as a substitute for cash because contra...
en.wikipedia.org/wiki/Holder_in_due_course |
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§ 3-302. HOLDER IN DUE COURSE. ... (a) Subject to subsection (c) and Section 3-106(d), "holder in due course" means the holder of an instrument if: ... (c) Except to the extent a transferor or predecessor in interest has rights as a holder in due course, a person does not acquire rights of a holder in due course of an...
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A holder in due course is one possessing a check or promissory note, given in return for something of value, who has no knowledge of any defects or contradictory claims to its payment. Such a ... The following is an example of a state statute dealing with a holder in due course:
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Holder in Due Course and Check Fraud; A white paper discussing the implications of current holder in due course law on the issue of liability in check fraud. (5 pages - 70 KB) ... Triffin v. Pomerantz Staffing Services, LLC; Superior Court Of New Jersey, Appellate Division; Decided: June 29, 2004...
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Legal term for an original or any subsequent holder of a negotiable instrument (check, draft, note, etc.) who has accepted it in good-faith and has exchanged something valuable for it. For example, anyone who accepts a third-party check is a holder in due course.
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On 9/3/01, a question regarding FTC Notice/Notice of Holder in Due Course was answered by Jim Bedsole. In our case, his answer states - if we have a floor plan agreement with Dealer A and a borrower purchases an auto, but directly finances with us, the notice would still be required. ... ; Site Map; Our Sponsors; Home;
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SHELTER PROVISION (holder through a holder in due course) ... Primary - unconditionally promises to pay amount stipulated when it is due. ... Secondary - liability to pay occurs when party primarily liable defaults (does not pay when due)
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