Negotiable Instruments Act Section 8 — “Holder”

CHAPTER II OF NOTES, BILLSAND CHEQUES

General

Summary

A holder is the person who is legally entitled to possess a promissory note, bill of exchange, or cheque in their own name and to receive or recover the money owed on it from the parties involved. If the document is lost or destroyed, the holder is still the person who was entitled to it at the time it was lost or destroyed.

Official Text

The “holder” of a promissory note, bill of exchange or cheque means any person entitled in his own name to the possession thereof and to receive or recover the amount due thereon from the parties thereto. Where the note, bill or cheque is lost or destroyed, its holder is the person so entitled at the time of such loss or destruction.