Negotiable Instrument Act - 2 (UGC/ NET)

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Multiple Choice

A ‘holder in due course’ is a person

  1. entitled to possess the negotiable instrument in his own name and to recover the amount
  2. who becomes a possessor of the negotiable instrument for consideration
  3. who holds the instrument as an agent of the payee
  4. who possesses the instrument only for the purpose of presentation for payment
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