DH Cattle Holdings Co. v. Reno

I agree that plaintiff, as Rabobank’s assignee, is entitled to assert the rights of a holder in due course, but not because defendants failed to demonstrate the existence of a genuine defense to the note. Indeed, it would not be necessary to determine whether Rabobank is a holder in due course, rather than merely a holder, unless there is a valid defense to the note (see, First Intl. Bank v Blankstein & Son, 59 NY2d 436, 444). It is my view that defendants presented sufficient evidence to create a question of fact as to whether Dreamstreet Corporation, the payee, agreed that payment of the…