HOLDER {Sec. 8}
A holder of a negotiable instrument is a person entitled in his own name to the possession there of and to receive or recover the amount due an negotiable instrument from the parties liable on negotiable instrument.
HOLDER IN DUE COURSE {Sec. 9}
A ‘holder in due course’ is a person who-
*must be a holder.
*must have become the holder for consideration.
*must have obtained the possession of negotiable instrument before maturity.
*must have obtained the negotiable instrument in good faith.
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