Holder in Due Course - Receive Instrument for Value

The video tutorial explains the concept of a holder in due course, emphasizing the need for the holder to pay value for the instrument. It outlines various forms of value, such as money, assets, services, and the cancellation of existing debts. The tutorial clarifies that future or contingent value, including promises for future services or goods, does not qualify as value. It stresses the importance of current or existing debt as a form of value and distinguishes it from future obligations, which are merely contract rights and not present value.

What does it mean for an individual to pay value for an instrument?

What forms can value take when paying for an instrument?

How does the cancellation of an antecedent debt serve as a form of value?

Why can't future value be considered as payment for an instrument?

What is meant by existing debt in the context of providing value?