payment in due course

Payment at or after the maturity of the instrument to the holder thereof in good faith and without notice that his title is defective. 11 Am J2d B & N § 964. For effect of the Commercial Code upon the requirement of a payment in due course for the discharge of a negotiable instrument, see Comment 3 to UCC § 3-603.

Ballentine's law dictionary. . 1998.

Look at other dictionaries:

  • payment in due course — n. Payment to the holder of a negotiable instrument on or after its maturity date in good faith and with no known defects in title. The Essential Law Dictionary. Sphinx Publishing, An imprint of Sourcebooks, Inc. Amy Hackney Blackwell. 2008.… …   Law dictionary

  • payment in due course — The payment of a bill of exchange when it matures (becomes due) …   Big dictionary of business and management

  • payment in due course — Fin the date on which a bill of exchange becomes payable …   The ultimate business dictionary

  • due course payment — See payment in due course …   Ballentine's law dictionary

  • due course of trade — In the ordinary course of business. The circumstances attendant upon a transaction in the ordinary course of business, such as a sale and payment of the price contemporaneously …   Ballentine's law dictionary

  • 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 …   Law dictionary

  • payment — The fulfilment of a promise, or the performance of an agreement. A discharge of an obligation or debt, and part payment, if accepted, is a discharge pro tanto. In a more restricted legal sense payment is the performance of a duty, promise, or… …   Black's law dictionary

  • payment in good faith — See payment in due course …   Ballentine's law dictionary

  • due — adj [Old French deu, past participle of devoir to owe, from Latin debere] 1 a: satisfying or capable of satisfying an obligation, duty, or requirement under the law the buyer s due performance under the contract due proof of loss b: proper under… …   Law dictionary

  • due — due1 W1S1 [dju: US du:] adj ▬▬▬▬▬▬▬ 1¦(expected)¦ 2¦(owed)¦ 3¦(money)¦ 4 in due course 5¦(proper)¦ 6 with (all) due respect ▬▬▬▬▬▬▬ [Date: 1200 1300; : Old French; Origin: deu owed , past participle of devoir to owe , from …   Dictionary of contemporary English


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