Delaware Code
6 Del. C. § 8-303 (2026)
Protected purchaser
✓ current as of May 2026
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(a) “Protected purchaser” means a purchaser of a certificated or uncertificated security, or of an interest therein, who:
(1) gives value;
(2) does not have notice of any adverse claim to the security; and
(3) obtains control of the certificated or uncertificated security.
(b) A protected purchaser acquires its interest in the security free of any adverse claim.
5A Del. C. 1953, §§ 8-302; 55 Del. Laws, c. 349; 64 Del. Laws, c. 152, § 6; 71 Del. Laws, c. 75, § 1; 84 Del. Laws, c. 174, § 41;Notes of Decisions
Cited in 3
cases (1 in the last 5 years), 2015–2023 · leading case: Benjamin Feldman v. YIDL Trust (Del. Ch. 2018).
Benjamin Feldman v. YIDL Trust (Del. Ch. 2018). “§ 8-303(3). 19 “Purchaser” and “value” are broadly-defined terms.”
Petroleos de Venezuela, S.A. v. PDV Holding, Inc. (Del. Ch. 2023). “” 6 Del. C. § 8-303(a). “[I]f a purchaser obtains notice of an adverse claim before giving value or satisfying the requirements for control, the purchaser cannot be a protected purchaser.”
In re Activision Blizzard, Inc. Stockholder Litig. (Del. Ch. 2015). “13 “This is the general rule embodied in 6 Del. C. § 8-303(a), which provides that upon delivery of a .”
— 6 Del. C. § 8-303(a) — 2 cases
Petroleos de Venezuela, S.A. v. PDV Holding, Inc. (Del. Ch. 2023). “” 6 Del. C. § 8-303(a). “[I]f a purchaser obtains notice of an adverse claim before giving value or satisfying the requirements for control, the purchaser cannot be a protected purchaser.”
In re Activision Blizzard, Inc. Stockholder Litig. (Del. Ch. 2015). “13 “This is the general rule embodied in 6 Del. C. § 8-303(a), which provides that upon delivery of a .”
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