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Reasons: 2. Bebeng, maker; CJ, payee of an order promissory note for P10,000.
1. Creditor realizes or secures his debt and holds The note is indorsed by CJ to Ayel for a camera which Ayel delivered
prolonged or forbear from taking any legal steps to enforce his rights to CJ. Ayel is a holder for value because he has given a valuable
consideration (camera)
2. Debtor has the advantage of making his
negotiable instrument of equivalent value
3. M issues a PM payable to the order of for P5000 without valuable
to cash
consideration. P indorses that note to A, A to B, and B to H who gives
P5,000 for the note indorsed to him. H is a holder for value not only
with respect to B to whom he gave a valuable consideration but also
with respect to M, P and A.
Section 26.
What constitutes holder for value.
- Where value has at any time 4. M issues a PM payable to the order of P for P5000. P indorses that
been given for the instrument, note to A, A to B, and B to C who is known to have given value to B
for the note indorsed to him. Later C indorsed the note to H as gift.
- the holder is deemed a holder for value in respect to all
parties As regards M, P, A and B, H is a holder for value because they
became parties to the note prior to the time that value has been given
- who become such prior to that time. by C to B. As regards C, H is not a holder for value because he
received the note as a gift and thus did not give any consideration
Q: What is the concept of holder for value? therefor.
A: A holder for value is one who has given valuable consideration for an
Finals for Nego 3
A: No, a bank is not a holder for value. The bank deposits are governed
by the provisions on simple loan. As creditor-depositor, one does not
expect to receive identical money in return but an identical sum.
Q: What is lien?
A: It is a right to retain the possession of the property of
another until the owner pays his debt to the holder. It is a
charge against or interest in property to secure payment of a
debt or performance of an obligation.