Holder is a term used to any person that has in their custody a
promissory note
A promissory note, sometimes referred to as a note payable, is a legal instrument (more particularly, a financing instrument and a debt instrument), in which one party (the ''maker'' or ''issuer'') promises in writing to pay a determinate sum of ...
,
bill of exchange
or
cheque
A cheque, or check (American English; see spelling differences) is a document that orders a bank (or credit union) to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued. The pers ...
. It should be entitled in his own name.
Holder means a person entitled in his own name to the possession of a negotiable instrument and to receive the amount due on it.
Business law
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