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Holder in due course

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A holder who has taken a bill of exchange (check or note) complete and regular on the face of it, under the following conditions, namely:

(a) That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact.

(b) That he took the bill (check or note) in good faith and for value, and that at the time it was negotiated to him he had no notice of any defect in the title of the person who negotiated it.

Related Acts

  • Uniform Negotiable Instrument Act, ยง52

Related Cases

  • Peoples Loan & Finance Co. v. Ledbetter, 69 Ga.App. 729, 26 S.E.2d 671, 674

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