A promise to give value in the future is normally sufficient to confer the rights of an HDC on one in possession of a negotiable instrument.

Name: A promise to give value in the future is normally sufficient to confer the rights of an HDC on one in possession of a negotiable instrument.
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Question

Quizplus · Accepted Answer

A holder in due course (HDC) must have given value for the negotiable instrument, and a mere promise to give value in the future does not satisfy this requirement.

A Promise to Give Value in the Future Is Normally