Question
Who is holder in due course? Explain his privileges.
Answer :
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Skip in 10
A holder in due course (HDC) is a person who has acquired a negotiable instrument, such as a bill of exchange, promissory note, or cheque, in good faith, for value, and without any knowledge of any defects or claims against it. To qualify as a holder in due course, certain criteria must be met: the instrument must be complete, it must be transferred to the person without any fraud or misrepresentation, and the transfer must be made for value, meaning that the holder has provided something in exchange for the instrument. The privileges of a holder in due course are significant because they allow the holder to take the instrument free from most defenses that could be raised against prior holders. One of the key privileges
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