Which one of the following conditions is not compatible with essential elements of 'holder in due…
A holder in due course must acquire the instrument before maturity, i.e. before the amount became payable (s.9 of the Negotiable Instruments Act, 1881), so "He must have…
Choose your answer
Which one of the following conditions is not compatible with essential elements of 'holder in due course'?
Answer and explanation
Correct answer B
A holder in due course must acquire the instrument before maturity, i.e. before the amount became payable (s.9 of the Negotiable Instruments Act, 1881), so "He must have obtained the instrument on the date of its maturity positively." is not compatible with that requirement.
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