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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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In the last fewdecades, managers and leaders of large and multinational corporations have adopted practicesof corporate social responsibilities to resolve social issues. More attention has been given...

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Chapter 26 2 Holder In Due Course

Chapter 26 2 Holder In Due Course

Q 1) How does the "VALUE" requirement for a holder in due course differ from the "CONSIDERATION" requirement in Contract Law? 2) Read the case of Georg v Metro Fixtures on page 489 and answer the following questions: a) Was the instrument a draft or a note? b) Who was the drawer drawee and payee on the instrument? c) Was Freestyle a Holder in Due Course? Why or why not?

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In case of the “VALUE” requirement for a holder in due course, a promise made to ensure the giving of a value in the long run is not considered to be a valid enough consideration. Therefore, this type of promise does not ensure that the promisor is made a holder in due course because of the constitution of insufficient value. However, in case of a “CONSIDERATION” requirement in Contract Law, a promise made to ensure the giving of a value in the long run is considered to be a valid enough consideration.