innocent holder for value
- innocent holder for value
-
One who has acquired property from another for value without notice of a third person's equities in or claims to the property.
In order that a payee of trust funds may prevail as an innocent holder for value, in addition to being innocent of its trust character at the time of its receipt, he must have parted with some value, suffered some detriment, or forborne the exercise of some right which he might otherwise have asserted. Aetna Casualty & Surety Co. v Local Building & Loan Asso. 162 Okla 141, 19 P2d 612, 86 ALR 526.
See holder in due course; innocent indorsee.
Ballentine's law dictionary.
Anderson, W.S..
1998.
Look at other dictionaries:
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