What is the difference between a holder and holder in due course?
What will be an ideal response?
A holder is a person in possession of an instrument that is payable to bearer or an identified person who is in possession of an instrument payable to that person. The holder of a negotiable instrument has the same rights as an assignee of an ordinary nonnegotiable contract. That is, the holder is subject to all the claims and defenses that can be asserted against the transferor.
A holder in due course (HDC) is a holder who takes an instrument for value, in good faith, and without notice that it is defective or overdue. An HDC takes a negotiable instrument free of all claims and most defenses that can be asserted against the transferor of the instrument.
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What is a feature of short-term assignments?
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Levi's Toy Store orders one hundred board games from Big Board Games Warehouse. When the games are delivered, they are all missing pieces. Levi's Toy Store rejects the shipment. Big Board Games wants to cure. Big Board Games must? A)?promptly notify Levi's Toy Store of the intent to cure
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