Business Law II: Holding In Due Course and Transferability -L2- Professor Sharma скачать в хорошем качестве

Business Law II: Holding In Due Course and Transferability -L2- Professor Sharma

Business Law II: Professor Sharma Lecture #2, Chapter 23 & 24 Chapter 23: Holding In Due Course and Transferability & Chapter 24: Liabilities, Defense, and Discharge Date: February 7, 2015 Please visit our website at http://raw.rutgers.edu Time Stamps: 0:40 Introduction to Holder in Due Course and Transferability 2:37 Transfer of a Nonnegotiable Contract by Assignment 9:48 Case 23.1: Bearer Paper 16:59 Transfer of a Negotiable Instrument by Indorsement 20:01 Types of Endorsements 30:15 Holder in Due Course 33:27 Requirements for HDC Status Chapter 24: Liabilities, Defense, and Discharge 40:36 Signature Liability for Negotiable Instruments 48:24 Primary Liability for Negotiable Instruments 52:17 Secondary Liability for Negotiable Instruments Summary of Lecture: Negotiable instruments can be transferred to subsequent parties by negotiation. Assignment is the transfer of rights under a nonnegotiable contract; the transferor is the assignor and the transferee is the assignee. A nonnegotiable contract lacks one or more of the requirements to be a negotiable instrument. Negotiation is the transfer of a negotiable instrument by a person other than the issuer to a person who thereby becomes a holder. A holder in due course acquires greater rights than the transferor. Order paper is an instrument that is payable to a specific payee or indorsed to a specific indorsee. Bearer paper is an instrument that is not payable to a specific payee or indorsee. Indorsement is the signature written by or on behalf of the holder somewhere on an instrument. The signature may appear alone, name an individual to whom the instrument is to be paid, or be accompanied by other words. Indorsements are required to negotiate order paper, and are not required to negotiate bearer paper. A holder is a person who is in possesssion of a negotiable instrument that is drawn, issued, or indorsed to him or to his order, or to bearer, or in blank. The holder has the same rights as an assignee of an ordinary nonnegotiable contract, and subject to all the claims and defenses that can be asserted against the transferor. Holder in due course (HDC) is a holder who takes a negotiable instrument for value, in good faith, and without notice that it is defective or overdue. An HDC takes a negotiable instrument free or all claims, and only universal defenses may be asserted against an HDC. An HDC can acquire greater rights than a transferor. The person must be the holder of a negotiable instrument that was taken for value, in good faith, without notice that it is overdue, dishonored, or encumbered in any way, and bearing no apparent evidence of forgery, alterations, or irregularity. The shelter principle says a holder who does not qualify as a holder in due course in his or her own right becomes a holder in due course if he or she acquires an instrument through a holder in due course. Chapter 24: Liabilities, Defense, and Discharge A signature liability, also known as contract liability, is a liability in which a person cannot be held contractually liable on a negotiable instrument unless his or her signature appears on the instrument. A signer is a person signing an instrument who acts in the capacity of a maker or notes or certificates of deposit, a drawer or drafts or checks, a drawee who certifies or accepts checks or drafts, an indorses who indorses an instrument, an agent who signs on behalf of others, or an accomodation party. A signature is any name, word, or mark used in lieu of a written signature. It can be any symbol that is handwritten, typed, printed, stamped, or made in almost any other manner, and executed or adopted by a party to authenticate a writing. A primary liability is an absolute liability to pay a negotiable instrument, subject to certain universal defenses. Makers of promissory notes and CDs have primary liability for the instrument, unconditionally promise to pay amount stipulated in the note when due, and are absolutely liable to pay the instrument, subject only to certain universal defenses. The secondary liability is a liability on a negotiable instrument that is imposed on a party only when the party primarily liable on the instrument defaults and fails to pay the instrument when due. Please subscribe to our channel to get the latest updates on the RU Digital Library. To receive additional updates regarding our library please subscribe to our mailing list using the following link: http://rbx.business.rutgers.edu/subsc...