Question

Under the Negotiable Instruments Act, 1881, a holder in due course is a person who has taken a negotiable instrument:

A After gaining knowledge of a defect in the title of the previous transferor
B For consideration, in good faith, and before the amount became overdue
C By way of a gift without providing any valuable consideration
D Through an endorsement that has been proven to be forged or unauthorized
E Only after the instrument has already been dishonoured by the drawee
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