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Simple English definitions for legal terms

due course, payment in

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A quick definition of due course, payment in:

Due Course, Payment In: When someone owes you money and they pay you at the right time, it's called payment in due course. This means they paid you when they were supposed to and didn't know of any problems with your right to receive the payment. It's like when you borrow a toy from a friend and promise to give it back in a week. If you give it back on time and your friend doesn't know of any problems with the toy, then you returned it in due course.

A more thorough explanation:

Due course, payment in: A payment made to the holder of a negotiable instrument at or after its maturity date, by the payor in good faith and without knowledge of any defects in the holder's title. This is also known as payment in due course.

Example 1: John owes Jane $500 and writes her a check. Jane deposits the check into her bank account. When the check clears, the bank pays Jane the $500. This is an example of payment in due course because the bank paid Jane in good faith and without knowledge of any defects in her title to the check.

Example 2: Sarah buys a used car from Tom and pays him with a cashier's check. Tom deposits the check into his bank account. A few days later, the bank informs Tom that the check was fraudulent and takes the $10,000 out of his account. This is not an example of payment in due course because the bank did not pay Tom in good faith and with knowledge of a defect in Sarah's title to the check.

Payment in due course means that the payor (the person making the payment) pays the holder of a negotiable instrument (such as a check or promissory note) in good faith and without knowledge of any defects in the holder's title. This protects the payor from being held responsible if there are any issues with the instrument's ownership or validity. The examples illustrate this concept by showing how payment in due course protects the payor from being held responsible for any defects in the holder's title.

due consideration | due-course holder

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m10
11:29
Nah you wanna be wound up tight like a clock. All your parts working in synchronization, never missing a second.
BulbasaurNoLikeCardio
11:30
When I get home I think I will pull up a youtube yoga video and lay out the mat by the fireplace now, feeling guilty I haven't been stretching properly
1a2b3c4d26z
11:30
tighter you are, more potential energy you have. Your body is a spring. It's just physics
m10
11:30
Exactly.
JumpySubsequentDolphin
11:30
yoga classes stress me out
WorthlessAttractiveZombie
11:31
W&L put their scholarship info on the portal for those who were admitted 11/12
m10
11:31
Gotta always be ready to release that energy. Like if I am in a fight at the bar, I just gotta bust out a couple punches. No stretching.
JumpySubsequentDolphin
11:31
the instructor will be like "forget all of the things that youre stressing about" which reminds me of all of the things im stressing about
BulbasaurNoLikeCardio
11:32
I am too competitive to do yoga classes with other people. Try to stretch better or further then hurt myself lmao I am beyond competitive in anything physical.
babycat
11:32
if you guys all pay me to be your lsat tutor I can afford to do Pilates classes
JumpySubsequentDolphin
11:32
hot yoga was fun
JumpySubsequentDolphin
11:32
i loved barre and pilates when i did them together
m10
11:33
Here's an article from Testosterone nation for all you men out there on why stretching is bullshit. https://archive.t-nation.com/training/stretching-is-b-s/
snow
11:36
M so close to crashing out
BulbasaurNoLikeCardio
11:36
@babycat: If the person I am mentoring decides to listen to my advice instead of just discussing my advice I will pay you to tutor her. You seem like a smart, good and well put together person that she can probably learn well from.
babycat
11:37
Aw that’s so sweet Bulbasaur <3
11:39
@m10: stretching absolutely helps with tight tendons lol
11:39
now kiss
m10
11:40
@EvolBunny: Indeed! I am just riffing. Practicing for when I get into Chicago and do standup there on the weekends and get mad pussy.
11:40
You only do cardio on the weekends ;)
babycat
11:40
@m10: I have a friend that does this but he doesn’t get mad pussy
m10
11:40
I'll work that in! Sounds like a good way to segway.
m10
11:41
@babycat: yeah, well unlike 99.99% of people who do standup I will.
BulbasaurNoLikeCardio
11:41
To do stand up comedy you have to have fat balls, that is awesome
m10
11:41
Woah, I got little balls. Like Adam Friedland. I ain't no Stavros.
what are we hoping for today?
m10
11:44
Nothing. No news is good news for me.
11:44
Crickets coming from my status update
babycat
11:45
dk are we gonna go to a homoerotic law school together?
11:45
@m10: at undergrad froshers: https://www.youtube.com/watch?v=6YEarMyIAzs
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