What does section 8 call a person entitled in their own name to possess a negotiable instrument and recover the amount due?
Question and options
What does section 8 call a person entitled in their own name to possess a negotiable instrument and recover the amount due?
Owner
Receiver
Holder
Maker
Answer and explanation
Correct answer: C - Holder
Section 8 of the Negotiable Instruments Act, 1881 defines the holder as the person entitled in his own name to the possession of the instrument and to receive or recover the amount due on it from the parties. The Act does not use 'owner' for this; a person may be in possession, or even the true owner, without being a holder entitled in his own name, as with a finder or an agent.
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