III. HOLDER IN DUE COURSE 200

1. A. GENERALLY 200

2. B. BURDEN OF ESTABLISHING STATUS AS HOLDER IN DUE COURSE 201

3. C. HOLDER 201

4. D. VALUE 208

5. E. GOOD FAITH 209

6. F. NOTICE OF DISHONOR, OVERDUENESS, DEFENSES, AND CLAIMS 209

7. G. THE “UMBRELLA” OR “SHELTER” DOCTRINE 212

8. H. NON-HOLDERS IN POSSESSION 212

9. I. PERSONS NOT IN POSSESSION 213