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What is Holder in Due Course: State Investment Case about?

State Investment House v. IAC (1989) involved a case where New Sikatuna Wood Industries obtained a loan from Chua and issued him three crossed checks that were later dishonored due to insufficient funds. New Sikatuna Wood Industries then entered an agreement with State Investment House and assigned them the three crossed checks. When State Investment House tried to deposit the checks, they were dishonored. The court ruled that State Investment House was not a holder in due course because crossed checks requ

Author

Aki Lacanlalay

Language

EN