Examlex
For each of the five structural configurations, identify an appropriate integrative mechanism.
Holder in Due Course
A person who has acquired a negotiable instrument in good faith and for value, therefore having certain legal protections.
Payee
The individual or entity to whom a check, draft, or promissory note is made payable.
First in Time
A principle stating that rights or privileges are assigned to those who are first to take action or establish legal claim.
Priority in Bankruptcy
The ranking order established by bankruptcy law that determines the sequence in which creditors are paid from a debtor's estate.
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