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A Wiley Review Notes REG > Holder in Due Course > Flashcards

Flashcards in Holder in Due Course Deck (5)
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1
Q

To become a holder in due course the holder must take note without notice

A

1) that the instrument is overdue
2) has been dishonored
3) any person has a defense or claim to it

2
Q

An executory promise

A

does not satisfy the value requirement of Holder in due course until the promise is actually performed

3
Q

Taking satisfaction of previous debt

A

constitutes value of being a HDC

4
Q

A check for less value than the negotiable note

A

does not violate value requirements

5
Q

An antecedent debt

A

constitutes value whether the debtor was a relative or not. valid under negotiable instruments law

Decks in A Wiley Review Notes REG Class (99):