Sally Baker is buying a car, but her parents are going to pay for it. However, they do not have the cash to pay for it immediately, so instead Sally signs a loan agreement with the dealer where the dealer has a lien on the car’s title until the loan is fully paid, and the parents make a note promising to pay the dealer in full in 90 days. Is Sally a holder in due course?
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Sally Baker is buying a car, but her parents are going to pay for it. However, they do not have the...
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