![]() ![]() When accepted, the holder must not be aware of any default. It must have been accepted in good faith. The document must have been accepted for its value. Requirements for Being a Holder in Due Course What are the three required conditions for a holder to be a holder in due course? ![]() ![]() When can a drawer or an individual who is liable on an instrument Cannot raise a defense against a holder in due course?Ī drawer or an individual who is liable on an instrument cannot raise a defense against a holder in due course when: an incomplete document is delivered to a holder who then negotiates it to a holder in due course. In Banking or Commercial law, a holder in due course is a person who accepts a negotiable instrument in a value-for-value exchange without doubting its legitimacy so ultimately in a good faith. Can a holder for value be considered as holder in due course?
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