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Meaning / Definition of
Holder In Due Course
Categories: Estate Planning, Legal, ,
Someone who 1) holds a check or promissory note that was received in good faith and in exchange for value and 2) who has no suspicion that there is a claim against it by another party or that it was previously dishonored. Such a holder is entitled to payment by the maker of the check or note. (See also: bona fide purchaser)
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