MLchartDataset catalogue

Payment in due course

Term · Law · MLC-T-LAW-003673

The discharge of a negotiable instrument, such as a promissory note or check, by the party primarily liable for its payment, at or after its maturity, to the holder in good faith and without notice that the holder's title is defective. This act extinguishes the instrument and all liabilities arising from it. The Uniform Commercial Code (UCC) in the United States outlines the conditions for a valid payment in due course.

Table 1. Record
IdentifierMLC-T-LAW-003673
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-003673",
  "term": "Payment in due course",
  "field": "Law",
  "definition": "The discharge of a negotiable instrument, such as a promissory note or check, by the party primarily liable for its payment, at or after its maturity, to the holder in good faith and without notice that the holder's title is defective. This act extinguishes the instrument and all liabilities arising from it. The Uniform Commercial Code (UCC) in the United States outlines the conditions for a valid payment in due course.",
  "url": "https://mlchart.com/terminology/law/payment-in-due-course/"
}

Record 3,678 of 5,441 in Law terminology (MLC-0107). Request the full dataset.