Negotiable Instruments Act Section 133 — Holder of first acquired part entitled to all

CHAPTER XV O F B I L L S I N S E T S

General

Summary

When a bill of exchange is issued in multiple parts as a set, and different people end up holding different parts of that set as holders in due course, the person who got their part first has the strongest claim. That first holder is entitled to the other parts of the set as well as the money the bill represents. This rule decides who wins when there is a conflict between holders of different parts of the same bill.

Official Text

As between holders in due course of different parts of the same set, he who first acquired title to his part is entitled to the other parts and the money represented by the bill.