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Under the Negotiable Instruments Act, 1881, the person from whom title is derived must be:

Section 53 of the Negotiable Instruments Act protects a holder who "derives title from a holder in due course", including through intervening holders. The immediate…

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Under the Negotiable Instruments Act, 1881, the person from whom title is derived must be:

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Correct answer C

Section 53 of the Negotiable Instruments Act protects a holder who "derives title from a holder in due course", including through intervening holders. The immediate transferor need not himself be a holder in due course, but a holder for value with notice supplies no such protection unless the chain already includes a holder in due course.

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