Lecture Business law with UCC applications (13/e): Chapter 17 - Brown, Sukys

Chapter 17 - Holders in due course, defenses, and liabilities. After completing this chapter, students will be able to: State the characteristics of being a holder in due course, describe the special protection given to a holder in due course, define holder, explain the protection given to a holder through a holder in due course,...

Business Law with UCC Applications,13e Holders in Due Course, Defenses, and Liabilities Chapter 17 McGraw­Hill/Irwin         Copyright © 2013 by The McGraw­Hill Companies, Inc. All rights reserved Learning Objectives State the characteristics of being a holder in due course Describe the special protection given to a holder in due course Define holder Explain the protection given to a holder through a holder in due course Name six personal defenses 17­2 Learning Objectives (cont.) Discuss the protection given to people who sign consumer credit contracts Name six real defenses and explain the significance of a real defense Explain primary liability Explain secondary liability 10.Describe the conditions that must be met to hold a secondary party liable 17­3 Holders in Due Course, Defenses, and Liabilities • Holder in Due Course – The Elements of a Holder in Due Course – Holder Through a Holder in Due Course 17­4 Holders in Due Course, Defenses, and Liabilities • Personal Defenses – Breach of Contract – Lack or Failure of Consideration – Fraud in the Inducement – Lack of Delivery, Payment, and Consumer Protection 17­5 Holders in Due Course, Defenses, and Liabilities • Real Defenses – Infancy and Mental Incompetence – Illegality and Duress – Fraud as to the Essential Nature of the Transaction – Bankruptcy, Unauthorized Signatures, and Alteration 17­6 Holders in Due Course, Defenses, and Liabilities • Liability of the Parties – Makers, Acceptors, and Certain Drawers – Other Drawers and Indorsers 17­7 Holders in Due Course, Defenses, and Liabilities • Other Drawers and Indorsers – Presentment – Dishonor – Notice of dishonor 17­8 ... secondary party liable 17? ?3 Holders in Due Course, Defenses, and Liabilities • Holder in Due Course – The Elements of a Holder in Due Course – Holder Through a Holder in Due Course 17? ?4 Holders in Due... Signatures, and Alteration 17? ?6 Holders in Due Course, Defenses, and Liabilities • Liability of the Parties – Makers, Acceptors, and Certain Drawers – Other Drawers and Indorsers 17? ?7 Holders in Due... of Consideration – Fraud in the Inducement – Lack of Delivery, Payment, and Consumer Protection 17? ?5 Holders in Due Course, Defenses, and Liabilities • Real Defenses – Infancy and Mental Incompetence