Holder For Value - Law Dictionary Search Results
Home Dictionary Name: holder for valueholder for value
holder for value :a holder to whom an instrument is issued or transferred in exchange for something of value (as a promise of performance, a security interest or lien in the instrument not obtained by judicial process, payment of or use of the instrument as security for a claim against another person, a negotiable instrument, or the incurring of an irrevocable obligation to a third party) ...
Holder in due course
Holder in due course is 'a holder who has taken a bill of exchange [cheque or note], complete and regular on the face of it,' under the following conditions, namely:-(a) That he became the holder of it before it was overdue, and without notice that it had been previously dishonoured, if such was the fact.(b) That he took the bill [cheque or note] in good faith and for value, and that at the time it was negotiated to him he had no notice of any defect in the title of the person who negotiated it, Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 29.A person who in good faith has given value for a negotiable instrument that is complete and regular on its face, is not overdue, and, to the possessor's knowledge has not been dishonoured, Black's Law Dictionary, 7th Edn.In R. E. Jones Ltd. v. Warning and Gillow Ltd., 1926 AC 670, it was held that the original payee of a cheque is not a holder in due course within the meaning of the Bill of Exchange Act, 1882.Means any person who for cons...
holder in due course
holder in due course :the holder of a negotiable instrument that is complete and regular on its face and that is taken in good faith and for value without notice that it is overdue or has been dishonored or that there is any defense against it or claim to it by any party compare bona fide holder NOTE: A holder in due course takes the negotiable instrument free of any claims to it and of most defenses of a party to it. Federal Trade Commission rules have abolished the status of holder in due course in consumer transactions. ...
bona fide holder
bona fide holder : a holder of a negotiable instrument who acquired title to the instrument in the ordinary course of business for value before it became due and without knowledge of any defect in title compare holder in due course ...
Negotiation by delivery
Negotiation by delivery, [See Negotiable Instru-ments Act, 1881 (26 of 1881), s. 47]Subject to the provision of s. 58, a promissory note, bill of exchange or cheque payable to bearer is negotiable by delivery thereof.Exception.--A promissory note, bill of exchange or cheque delivered on condition that it is not to take effect except in a certain event is not negotiable (except in the hands of a holder for value without notice of the condition) unless such event happens.Illustrations(a) A, the holder of a negotiable instrument payable to bearer, delivers it to B's agent to keep for B. The instrument has been negotiated.(b) A, the holder of a negotiable instrument payable to bearer, which is in the hands of A's banker, who is at the time the banker of B, directs the banker to transfer the instrument to B's credit in the banker's account with B. The banker does so, and accordingly now possesses the instrument as B's agent. The instrument has been negotiated, and B has become the holder of...
Accommodation Bill
Accommodation Bill, one which the accommodating party has signed as drawer, acceptor, or endorser, without receiving value therefor and for the purpose of lending his name to some other person; he is liable on the bill to a holder for value; and it is immaterial whether, when such holder took the bill, he knew such party to be an accommodation party or not. The accommodating party has a right to be indemnified by the party to whom he lent his name. See (English) Bills of Exchange Act, 1882, s. 28....
Money lender
Money lender, a few disconnected and isolated transactions would not make a person engaged regularly in Money lending business, Ka Icildawallang v. U. Lokendra Sojour, AIR 1987 SC 2047. [Assam Money-lenders Act, (4 of 1934), s. 2(1)]--The (English) Money-lenders Act, 1900 (63 & 64 Vict. c. 51), by s. 6 defines the expression 'money-lender' therein as includingevery person whose business is that of money-lending, or who advertises or announces himself or holds himself out in any way as carrying on that business.but not including a pawnbroker (see that title), a Friendly, Building, or Loan Society (see those titles) or a corporation empowered by statute to lend money, orany person bona fide carrying on the business of banking or insurance or bona fide carrying on any business not having for its primary object the leading of money, in the course of which and for the purposes whereof he lends money; or any body corporate for the time being exempted from registration under this Act by order...
Holder
Holder, a payee or indorse in possession of a bill of exchange or a promissory note.The 'holder' of a promissory note, bill of exchange or cheque means any person entitled in his own name to the possession thereof and to receive or recover the amount due thereon from the parties thereto.Where the note, bill or cheque is lost or destroyed, its holder is the person so entitled at the time of such loss or destruction. [Negotiable Instruments Act, 1881 (26 of 1881), s. 8]A person who has legal possession of a negotiable instrument and is entitled to receive payment on it, Black's Law Dictionary, 7th Edn.Holder, in relation to any operating right, means the lessee, licensee or permittee, as the case may be, in respect of such operating right, the Offshore Areas Mineral (Development and Regulation) Act, 2002, s. 4(f)....
Member, shareholder and holder of a share
Member, shareholder and holder of a share, the scheme of the Indian Companies Act, 1913, shows that the words 'member', 'shareholder' and 'holder of a share' have been used interchangeably. The words 'holder of a share' are really equal to the word 'shareholder', and the expression 'holder of a share' denotes, in so far as the company is concerned, only a person who, as shareholder, has his name entered on the register of members, Howrah Trading Co. Ltd. v. Commissioner of Income Tax, AIR 1959 SC 775: (1959) Supp 2 SCR 448....
Attaching decree-holder
Attaching decree-holder, An attaching decree-holder is a representative of the judgment-debtor and any previous decision binding on the judgment-debtor is also binding on the attaching decree-holder, Ram Sewak v. Bahal, AIR 1935 All 888; Radharani v. Binodamoyee, AIR 1942 Cal 92....
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