Examlex
What are the five criteria that must be met for a contract with a customer to exist?
Holder In Due Course
A legal term for a person who has obtained a negotiable instrument in good faith and for value, and thus has certain rights above the original payee.
Breached The Contract
The act of failing to perform obligations stipulated in a contract, leading to a violation of the agreement.
Defense Against Payment
A situation where payment is withheld until certain conditions are met or issues are resolved.
Knowledgeable Holder
A term that would likely refer to an entity or individual in possession of a negotiable instrument who is well-informed about its terms and standing.
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