payment in due course

payment in due course definition - business

payment in due course

Payment of funds to the holder of a bill of exchange or promissory note on the due date. The payment is made in good faith on the assumption that title to the bill or note is not defective. See also holder in due course.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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