In force2023 Revised EditionCurrent version · 2023 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Bills of Exchange Act · 2023 Revised Edition · Part 2
Bills of Exchange Act · 2023 Revised Edition · Part 2
Official textFrom Attorney General's Chambers, unchanged
The rights and powers of the holder of a bill are as follows —
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
he may sue on the bill in his own name;
where he is a holder in due course, he holds the bill free from any defect of title of prior parties, as well as from mere personal defences available to prior parties among themselves, and may enforce payment against all parties liable on the bill.
Bills of Exchange
Where a holder’s title is defective —
if he negotiates the bill to a holder in due course, that holder obtains a good and complete title to the bill; and
if he obtains payment of the bill, the person who pays him in due course gets a valid discharge for the bill.
General duties of holder
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
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