What is HOLDER?

The holder of a bill of exchange, promissory note, or check is the person who has legally acquired the possession of the same, from a person capable of transferring it, by indorsement or delivery, and who is entitled to receive payment of the instrument from the party or parties liable to meet it. Bowling v. Harrison, 6 How. 258. 12L. Ed. 425; Crocker-Woolworth Nat. Bank v. Nevada Bank, 139 Cal. 564. 73 Pac. 456,63 L. R. A. 245. 96 Am. St. Rep. 169; Rice v. Hogau, 8 Dana (Ky.) 135; Rev. Laws Mass. 1902, p. 653,

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