Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

holder in good faith

Read a random definition: half-tongue

A quick definition of holder in good faith:

A holder in good faith is someone who takes something, like property or a piece of paper that represents money, without knowing that there is anything wrong with it. They believe that they are getting it legally and honestly.

A more thorough explanation:

A holder in good faith is a person who acquires property or an instrument without knowing that there is any problem with its ownership or title. This means that the person is not aware of any defects or issues that could affect their legal rights to the property or instrument.

  • John buys a used car from a dealership. He has no reason to believe that there is any problem with the car's title, and the dealership has provided him with all the necessary paperwork. John is a holder in good faith.
  • Sarah finds a lost wallet on the street and turns it in to the police. She does not know who the owner is or whether there is any money or valuable items inside. Sarah is a holder in good faith.

These examples illustrate the concept of a holder in good faith because both John and Sarah acquired property without any knowledge of defects or issues that could affect their ownership rights. They acted in good faith and did not knowingly participate in any illegal or fraudulent activities.

holder for value | holder of record

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
TheMidwestMonger
14:29
Sorry, I meant the far right and their reaction lol
I live in alabama if she wins it's gonna be crazy here
14:30
same as last time whine that it was rigged go to court lose every time
good thing im bouncing next year
oh yeah
JumpySubsequentDolphin
14:31
why won’t ASU send my scholly info ☹️
WorthlessAttractiveZombie
14:31
they sent mine about 3 hours after i got the initial acceptance video thing
I just wanna hear back from them
14:31
the adcomm office got there at 10 am took a two hour lunch at 12 and left at 3:30 -- trust me im from the year 2076
lol
WorthlessAttractiveZombie
14:32
lavender, they should usually get back within a month of going complete
okie doke, thank u!
JumpySubsequentDolphin
14:35
@WorthlessAttractiveZombie: good to know! I thought I missed SMTH bc someone told me they got their admissions packet before the video lol
BulbasaurNoLikeCardio
14:35
I got school that have me under review for over a month... just hope it puts me in their first wave of As
TackyProudYogurt
14:39
Anyone know if asu releases decisions all at once or if they trickle out throughout the day?
WorthlessAttractiveZombie
14:39
I'm pretty sure it's a trickle because they send you a personalized video too
TackyProudYogurt
14:40
Ah okay so I do need to continue refreshing my email every 10 seconds
WorthlessAttractiveZombie
14:40
I would say potentially. I received my email/video around noon eastern time, and I've seen people get it past 5pm eastern
coolgirl
14:40
Does anyone know if pending decision means I’ll get a response soon? My status changed
WorthlessAttractiveZombie
14:41
oooh which school?
TheMidwestMonger
14:42
^^
BulbasaurNoLikeCardio
14:42
@coolgirl: does it say that on the lawhub portal? My one A this cycle it said pending decision on their applicant portal and that they will email me in 24hrs the results.
coolgirl
14:43
FAMU
coolgirl
14:44
I got pending decision a week ago on my portal but haven’t seen any updates since
JumpySubsequentDolphin
14:45
@WorthlessAttractiveZombie: yours was personalized?! mine wasn’t 🙁
BulbasaurNoLikeCardio
14:45
That would kill my soul, see other people in that schools specific chat saying the same thing. Maybe they give a decision by mail?
WorthlessAttractiveZombie
14:50
@JumpySubsequentDolphin: I mean the dean just said my name and that was it but it’s still technically personalized
JumpySubsequentDolphin
14:51
she didn’t say my name 😀
JumpySubsequentDolphin
14:51
she was like congrats see you soon
WorthlessAttractiveZombie
14:52
I also did apply super early and got my decision early so maybe they just had more time in september
LSD+ is ad-free, with DMs, discounts, case briefs & more.