payment in due course

payment in due course definition - legal

n

The payment of a negotiable instrument to the holder on or after its due date in good faith by the payer and with no notice of any defect in title. See also holder in due course.

Webster's New World Law Dictionary Copyright © 2006 by Wiley Publishing, Inc., Hoboken, New Jersey.
Used by arrangement with John Wiley & Sons, Inc.

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