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holder in due course

noun

Definitions of holder in due course

  • a person who obtains possession of a negotiable instrument (=promissory note, check, bill of exchange, etc) by paying for it in good faith (=done with good intentions, without knowledge or suspicion that it might be no good)

    "The court found that she did not act in good faith and therefore cannot be a holder in due course."

Phrase Bank for holder in due course

Abbreviations of holder in due course

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