Asked by
Devin Donaghy
on Nov 27, 2024
Verified
A promise to perform or give value in the future is sufficient value to make the promisor an HDC.
HDC (Holder in Due Course)
A holder in due course is a party who has acquired a negotiable instrument in good faith and for value, and thus has certain rights above the original issuer or transferee.
Promise
A declaration or assurance that one will do a particular thing or that guarantees a particular outcome.
Promisor
An individual or entity that makes a promise or commitment to perform a specified act or duty in a contract.
- Learn about the qualifying factors for someone to be recognized as a holder in due course (HDC) and understand the protective rights reserved for such holders.
Verified Answer
AK
Learning Objectives
- Learn about the qualifying factors for someone to be recognized as a holder in due course (HDC) and understand the protective rights reserved for such holders.