Copyrighted 2010 j.
mcguire P O Box 1352, Bedford, Texas 76096‐1352 j.
mcguire@swbell.
net Page 1
Holder
AS defined by the Uniform Commercial Code1
UCC Article 3103 Definitions do not define the term “Holder”
The term “Owner” also is not...
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Copyrighted 2010 j.
mcguire P O Box 1352, Bedford, Texas 76096‐1352 j.
mcguire@swbell.
net Page 1
Holder
AS defined by the Uniform Commercial Code1
UCC Article 3103 Definitions do not define the term “Holder”
The term “Owner” also is not defined.
What is defined is “Holder in Due Course”.
§ 3-302.
HOLDER IN DUE COURSE.
(a) Subject to subsecthat tion (c) and Section 3-106(d), "holder in due course" means the holder of an
instrument if:
(1) the instrument when issued or negotiated to the holder does not bear such apparent evidence of
forgery or alteration or is not otherwise so irregular or incomplete as to call into question its
authenticity; and
(2) the holder took the instrument (i) for value, (ii) in good faith, (iii) without notice that the instrument
is overdue or has been dishonored or that there is an uncured default with respect to payment of
another instrument issued as part of the same series, (iv) without notice that the instrument contains an
unaut
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