holder for value
- A person who receives or possesses an instrument, such as a promissory note, deed, or other legal document, in exchange for something of worth. This could include a promise to perform some action, securing the instrument with a lien or interest not established by court process, using the instrument in support of a claim against another person, obtaining a negotiable legal document, or taking on an irreversible obligation to a third party
- The homeowners became a holder for value when they used their home as a guarantee for the car loan.
- As he received the promissory note as payment, the mechanic was deemed as a holder for value.
- The business managed to get the loan because they became a holder for value by pledging their office building.
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