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Simple English definitions for legal terms

shelter doctrine

Read a random definition: New York standard clause

A quick definition of shelter doctrine:

The shelter doctrine is a rule in commercial law that says if someone buys a piece of paper that promises to pay money (like a check or a promissory note) from someone who is legally allowed to sell it, then that person has the same rights as the original seller. This means that if the original seller could get the money promised on the paper, then the new buyer can too. This rule helps make it easy for people to buy and sell these kinds of papers without worrying about whether there might be problems with them later on.

A more thorough explanation:

The shelter doctrine is a principle in commercial law that states that anyone who receives commercial paper from a holder in due course, as well as any subsequent transferees, will inherit the same rights as the original holder. This means that transferees of holders in due course are generally not subject to defenses against the payment of an instrument. The doctrine ensures the free transferability of commercial paper.

The name of the doctrine comes from the idea that the transferees "take shelter" in the rights of the holder in due course. This means that they are protected by the same legal rights and defenses as the original holder.

Let's say that John is a holder in due course of a promissory note from Jane. John then transfers the note to Mary. Mary is now protected by the shelter doctrine and has the same legal rights and defenses as John. If Jane tries to raise any defenses against the payment of the note, Mary can take shelter in John's rights and is not subject to those defenses.

Another example would be if John then transfers the note to Sarah. Sarah is also protected by the shelter doctrine and has the same legal rights and defenses as John and Mary. If Jane tries to raise any defenses against the payment of the note, Sarah can take shelter in John and Mary's rights and is not subject to those defenses.

These examples illustrate how the shelter doctrine ensures the free transferability of commercial paper and protects subsequent transferees from any defenses raised against the payment of the instrument.

shelter-care hearing | shelter hearing

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cornell is incredibly based
our professors are sigmapilled goonmaxxers
i see, a quality education
GodsPlanUltimately
16:59
Interesting folks.
jackfrost11770
17:00
Cornell put me on reserve after interview they are at least slightly unbased
@jackfrost11770: thats why they sit at 2
cornell is based but universal rule is adcoms are ghouls
texaslawhopefully
17:01
this is depressing lol: https://thedispatch.com/newsletter/boilingfrogs/shock-and-awe/
Dkk
17:01
@GodsPlanUltimately smart of them
Dkk
17:02
How is it unpopular when he got the pop vote and the electoral college. Unreadable after the title.
Who’s hearing from uclaaa rnnnn
texaslawhopefully
17:03
Glad you're back dk lmao. If you read the actual article, it's that his day one EO's are wildly unpopular (for instance the majority of americans support birthright citizenship). He can have won the popular vote and still do unpopular stuff
texaslawhopefully
17:03
"Two recent polls found opposition to pardoning the J6ers at 57 and 59 percent, respectively, and that was before Americans understood that even the cop-beaters in the crowd that day would be let off scot-free."
I wonder if this chat has mods
17:04
as most dictators who have come into power do, he appealed to the masses just to turn face once in power
Barely nutty
Dkk
17:04
@texas maybe so. Maybe so.
17:04
we have been duped.
17:05
Oh well there is always the next election.* *- unless there are no more elections.
texaslawhopefully
17:05
I lean conservative and for a long time was one of those people who thought that he was bad but wasn't a facist and that sort of rhetoric was over-reactive. And for those reasons I voted for Harris, but I think I was underestimating him by far.
gov hiring freeze is insane
Remember when Elon musk literally did the nazi salute twice , yeah
Insane
his goal is to crush public opinion of the government by intentionally making ineffective and then pointing to how ineffective it is
Dkk
17:05
I personally think most people are one issue voters and rhey disagree on principle but things have to be done this say now or else they never will.
17:05
oh well should be a good little 'societal experiment' if u will
@SplitterusClitterus: he clearly just meant his heart goes out to him, just ignore his support for the literal fascist party in germany
17:06
dkk what's your one issue
texaslawhopefully
17:06
I was a one issue voter. My one fucking issue was that Trump encouraged an insurrection.
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