LAW 610 Chapter Notes - Chapter 30: Negotiable Instrument, Bearer Instrument, Promissory Note
Document Summary
Chapter 30 liabilities of parties under negotiable instruments. Distinguish between an ordinary holder and a holder in due course. Describe how the rights of a holder in due course have been limited by the federal trade commission. List the requirements for becoming a holder in due course. Explain the rights of a holder through a holder in due course. List and explain the limited defenses not available against a holder in due course. List and explain he universal defenses available against all holders. Rights and defences of parties to negotiable instruments are determined by types of parties involved. Parties with rights in a negotiable instrument can be assignees or holders. A holder can be a holder or a holder in due course. Assignee third party to whom contract benefits are transferred. Holder someone in possession of an instrument that runs to that person (i. e. is made payable to that person, is indorsed to that person, or is bearer paper)
