If there are no defenses to a negotiable instrument, do you have to be an HIDC to collect on the instrument?
Answer to relevant QuestionsWhat is the significance of being an ordinary holder as compared to an HIDC? Middle Georgia Livestock Sales bought cattle at an auction, paying by check. A couple of days later, Middle Georgia discovered that it had purchased stolen cattle and put through a stop- payment order on the check. ...Marcus purchased a one- week package deal to a summer resort area through a travel agency. Because the price had to be paid in advance, Marcus sent the travel agency a certified check for $ 900 drawn on the Citizens National ...Siniscalchi wrote a check on his account in the Valley Bank of New York and then negotiated the check on to a holder. He placed a stop- payment order on the check with his bank two days after the holder had cashed the check. ...Munz, a paraplegic, was being flown from Houston, Texas, to a clinic in Rochester, Minnesota, for treatment. As Track Airlines personnel were carrying her hurriedly and roughly aboard in a special chair for people in ...
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