ADVERTISEMENTS:

What do you mean by Holder?

Holder means any person entitled in his own name to the possession of the negotiable instruments and to recover or receive the amount due thereon from the parties thereto. A holder must, therefore, have the possession of the instrument and also the right to recover the money in his own name. Thus, a person who though in possession of the instrument but has no right to recover the money due thereon is not a holder.

Holder in Due Course and Defenses

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The position of a holder of a bill is important for a number of reasons. No person other than a holder can sue upon a negotiable instrument. With certain exceptions, the holder is entitled to negotiate it.

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