holder in due course

American  

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.

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Etymology

Origin of holder in due course

First recorded in 1890–95

Example Sentences

Guinness issued a statement on Tuesday saying they were saddened to hear of Weaver’s passing and are “currently investigating and verifying a potential successors for the oldest woman living title and will announce the new title holder in due course.”

From Newsweek

The act substitutes the expression “holder in due course” for the somewhat cumbrous older expression “bona fide holder for value without notice.”

From Project Gutenberg

Holder in due Course.—The holder of a bill has special rights and special duties.

From Project Gutenberg

But to get the full advantages of mercantile ownership the holder must be a “holder in due course”—that is to say, he must satisfy three business conditions.

From Project Gutenberg

Secondly, if a bill be issued with material blanks in it, any person in possession of it has prima facie authority to fill them up, and if the instrument when complete gets into the hands of a holder in due course the presumption becomes absolute.

From Project Gutenberg