Holder (law)
Encyclopedia
Holder is a term used in business law of any person that has in his custody a promissory note
, bill of exchange
or cheque
. It should be entitled in his own name so as to possess and to recover the amount due from the parties concerned.
Promissory note
A promissory note is a negotiable instrument, wherein one party makes an unconditional promise in writing to pay a determinate sum of money to the other , either at a fixed or determinable future time or on demand of the payee, under specific terms.Referred to as a note payable in accounting, or...
, bill of exchange
or cheque
Cheque
A cheque is a document/instrument See the negotiable cow—itself a fictional story—for discussions of cheques written on unusual surfaces. that orders a payment of money from a bank account...
. It should be entitled in his own name so as to possess and to recover the amount due from the parties concerned.