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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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Chapter 26 Holder In Due Course 2

Chapter 26 Holder In Due Course 2

Q What makes a Holder in Due Course magical as compared to an ordinary holder? 2)How does one qualify as a HDC? 3) When is a check deemed "overdue"? 4) What is the shelter principle?

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1) A Holder in Due Course becomes magical as compared to an ordinary holder as a HDC has the power to obtain a negotiable instrument before the maturity of the instrument (Clarkson, Miller & Cross, 2016). This can take place when the HDC has been selected/nominated to receive the instrument in good faith. In case of an ordinary holder, good faith is not taken into consideration. An HDC might not have knowledge about any specific defect in an individual’s title while receiving a negotiable instrument. This individual will always take up the instrument’s transferring responsibility (Clarkson, Miller & Cross, 2016).