{"data":{"id":"us-ny/n.y.-uniform-commercial-code-law-3-302","jurisdiction":"us-ny","citation":"N.Y. Uniform Commercial Code Law § 3-302","heading":"Holder in Due Course","body":"Section 3--302. Holder in Due Course.\n  (1) A holder in due course is a holder who takes the instrument\n       (a) for value; and\n       (b) in good faith; and\n       (c) without notice that it is overdue or has been dishonored or\n           of any defense against or claim to it on the part of any\n           person.\n  (2) A payee may be a holder in due course.\n  (3) A holder does not become a holder in due course of an instrument:\n       (a) by purchase of it at judicial sale or by taking it under\n           legal process; or\n       (b) by acquiring it in taking over an estate; or\n       (c) by purchasing it as part of a bulk transaction not in regular\n           course of business of the transferor.\n  (4) A purchaser of a limited interest can be a holder in due course\nonly to the extent of the interest purchased.","path":["Uniform Commercial Code Law","Article 3. Commercial Paper","Part 3. Rights of a Holder"],"source_url":"https://legislation.nysenate.gov/api/3/laws/UCC/3-302","current_through":"2026-09-11","vintage":"","retrieved_at":"2026-09-14T19:32:45Z","sha256":"629d0afdad4f2a8be73e33ee799a664a70f421eecfd20993f3f0d3a2a971286c","source_id":"us-ny","stale":false,"prev":"us-ny/n.y.-uniform-commercial-code-law-3-301","next":"us-ny/n.y.-uniform-commercial-code-law-3-303"},"notice":"GroundRules: Original legal text. Not legal advice."}