Can someone explain what Holder in due course

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  • December 24, 2011 at 6:42 am #164677
    kobebryant168
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    Merry X’mas everyone

    Can someone please explain what holder in due course mean?

    I’m on commercial paper chapter, and having difficult time understanding the terms

    What is holder in due course?

    What is a transferer and transferee?

    What is endorser? endorsee?

    How does defense related to commercial paper?

    Thanks alot guys!

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  • December 24, 2011 at 7:54 am #319175
    Anonymous
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    December 24, 2011 at 11:44 pm #319176
    Anonymous
    Inactive

    A holder in due course is someone who is free from personal defenses BUT NOT Real defenses. A person who is the transferer is the person who has to sign the back and transfer to the transferee. So the transferer has to endorse for it to count. Read the chapter again and do the MCQ and don't get into it too much just the basics.

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