Finance Company of America v. Wilson

Deen, Judge.

Under the Uniform Commercial Code a holder takes commercial paper for value to the extent that he acquires a security interest therein (Code Ann. § 109A-3-— 303(a)) or takes it as security for an antecedent claim; and is a holder in due course where he takes the paper for value, in good faith, and without notice that it is overdue, has been dishonored, or is subject to the claim or defense of another person (Code Ann. § 109A-3—302(1)). On motion for summary judgment in this case the plaintiff brought suit against the defendant Wilson for the unpaid balance on a promissory note…