Under s.9 of the Negotiable Instruments Act 1881, a holder in due course is a person who obtains a negotiable instrument:

Section 9 of the Negotiable Instruments Act 1881 defines a holder in due course as any person who, for consideration, became the possessor of a promissory note, bill of exchange or cheque, whether payable to order or to bearer, before the amount mentioned in it became payable, and without sufficient cause to believe that any defect existed in the title of the person from whom he derived his title. Consideration, receipt before maturity, good faith and absence of notice of defective title are cumulative requirements. A person who obtains the instrument after maturity is only a holder, not a holder in due course. Acquisition without consideration, or with notice of prior dishonour or defective title, similarly disqualifies the acquirer from the privileges of a holder in due course.