Judicial Dictionary
Title | Holder in due course |
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Details |
One who holds a negotibale instrument free from any defect of the title of
prior parties. “Holder in due course” means any person who for
consideration becomes the posessor of a promissory note, bill of exchange
or cheque if payable to bearer, or the payee or indorsee thereof, if
payable to order, before it became overdue, without notice that the title
of the person from whom he derived his own title was defective. …..
[Section 9 of the Negotiable Instrument Act,1881]
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