Holder is a term used to any person who has a promissory note or bill of exchange in their possession. The holder may be the payee, endorsee, or bearer. The holder can enforce, or seek payment for, the bill.
A holder for value is a holder who has given value for an instrument. A holder in due course can disregard the claims of prior holders, or any defects in title of the transferrer or negotiator of the bill.
References
- ^ Gooch, Graham; Williams, Michael (2014). A Dictionary of Law Enforcement. Oxford University Press. ISBN 9780191726736.
- ^ Gandhi, Jennifer (1991). Richardson's guide to negotiable instruments. London: Butterworths. pp. 70–71. ISBN 0 406 50920 4.
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