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VILLAGE MOTORS v. AMERICAN FED. SAV. & LOAN

Record Nos. 830519, 830520.

345 S.E.2d 288 (1986)

VILLAGE MOTORS, INC. v. AMERICAN FEDERAL SAVINGS AND LOAN ASSOCIATION. VILLAGE MOTORS, INC. v. Deronda D. BURNETTE, et al.

Supreme Court of Virginia.

June 13, 1986.

Attorney(s) appearing for the Case

S.J. Thompson, Jr. (John T. Cook, Caskie, Frost, Hobbs, Thompson, Knakal & Alford, Lynchburg, on briefs), for appellant.

David T. Petty, Jr. (J. Gorman Rosenberger, Jr., J. Leyburn Mosby, Jr., Kizer, Phillips & Petty, Lynchburg, on brief), for appellees.

Present: All the Justices.

COMPTON, Justice.

These two appeals stem from one transaction and present a single issue under the Uniform Commercial Code (UCC). The question is whether a payee, which occupied the status of a holder in due course of a negotiable instrument, "dealt" with the drawer within the meaning of Code § 8.3-305, thus subjecting the holder to personal defenses to the instrument.

The facts are undisputed. On August 14, 1981, appellant Village Motors, Inc., a Lynchburg...

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