Consideration for assumption of obligation as guarantor, surety, endorser, or indemnitor, after execution and delivery of principal contract, as predicable upon an antecedent promise to assume or furnish such obligation, 167 A.L.R. 1174.
Maturity of one or more of installments of note payable in installments as affecting status of purchaser as holder in due course, 170 A.L.R. 1029.
Crediting proceeds of negotiable paper to depositor’s account, as constituting bank a holder in due course, 59 A.L.R.2d 1173.
When is instrument issued or transferred for “value” under UCC § 3-303, 77 A.L.R.5th 429.
(a) An instrument payable on demand becomes overdue at the
earliest of the following times:
(1) On the day after the day demand for payment is duly made;
(2) If the instrument is a check, 90 days after its date; or
(3) Ifthe instrument is not a check, when the instrument has been outstanding for a period of time after its date which is unreasonably long under the circumstances of the particular case in light of the nature of the instrument and usage of the trade.
(b) With respect to an instrument payable at a definite time the
following rules apply:
(1) If the principal is payable in installments and a due date has not been accelerated, the instrument becomes overdue upon default under the instrument for nonpayment of an installment, and the instrument remains overdue until the default is cured;
(2) If the principal is not payable in installments and the due date has not been accelerated, the instrument becomes overdue on the day
after the due date; or
(3) Ifa due date with respect to principal has been accelerated, the instrument becomes overdue on the day after the accelerated due
date.
(c) Unless the due date of principal has been accelerated, an instrument does not become overdue if there is default in payment of interest but no default in payment of principal.