![]() Since Sarah took the check in good faith, for value, and without notice of any legal claims against it, she is considered a holder in due course and the payment discharges the instrument. If John had stopped payment on the check before the due date, Sarah would not have been able to receive payment in due course.Įxplanation: This example illustrates payment in due course because Sarah received payment on a negotiable instrument (the check) even though it was post-dated. What does all in due time expression mean Definitions by the largest Idiom Dictionary. Even though the check is post-dated, Sarah can still deposit it and receive payment in due course. What does in due time mean In due time means eventually or at the right time. Definition of all in due time in the Idioms Dictionary. He writes a check to Sarah for the amount on the due date. The holder of the instrument, known as a holder in due course, must have taken the instrument in good faith, for value, and without notice of any legal claims against it.Įxample: John owes $500 to his friend, Sarah. DUE meaning: 1 : required or expected to happen expected to be in a particular place at a particular time often followed by to + verb 2 : expected to be. Definition: Payment in due course refers to the payment made by a debtor on a negotiable instrument, even if it is made after the maturity date of the. ![]() Definition: Payment in due course refers to the payment made by a debtor on a negotiable instrument, even if it is made after the maturity date of the instrument. ![]()
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