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holder in due course

noun
1.
a person who has received a negotiable instrument in good faith and without notice that it is overdue, that there is any prior claim, or that there is a defect in the title of the person who negotiated it.
Origin
1890-1895
1890-95
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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Examples for holder in due course
  • However, if the promise or order is an instrument, there cannot be a holder in due course of the instrument.
  • Express will honor the check in its full amount upon presentation by a holder in due course.

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10
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