Stuart Stone
Re: Chip Douglas: And ultimately- a "valuable security" would need to eventually be 'redeemed,'
The holder may redeem it, sell it to another party for a percentage of its face value (negotiate its value with a third party), gift it to a third party, deposit it as an asset into a corporation (adding to the paper value of the company), deposit it into a trust as a trust asset....
Ultimately, the holder in due course may claim the value, or do what we all used to do up until reading this thread: burn it, shred it or bin it in which case the value would not be redeemed.
Printed copy · Anthology Volume 9, page 545
