Section 9
''Holder in due course''.
The Negotiable Instruments Act, 1881
About this Act
An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques.
"Holder in due course" means any person who for consideration
became the possessor of a promissory note, bill of exchange or cheque if payable to bearer,
or the payee or indorsee thereof, if 1[payable to order,]
before the amount mentioned in it became payable, and without having sufficient cause to believe that any defect existed in the title of the person from whom he derived his title.
or the payee or indorsee thereof, if 1[payable to order,]
before the amount mentioned in it became payable, and without having sufficient cause to believe that any defect existed in the title of the person from whom he derived his title.
Notes
1. Subs. by Act 8 of 1919. s. 2, for "payable to, or to the order of, a payee", .