holder


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Related to holder: Holder in due course, Holder inequality

Holder

An individual who has lawfully received possession of a Commercial Paper, such as a check, and who is entitled to payment on such instrument.

A holder is distinguishable from a holder in due course since, in addition to possession of the instrument, the latter takes it for value, in Good Faith, and in the absence of any notice that there is any claim against it or that it is overdue or has been dishonored, which means that payment of it has been refused.

holder

n. a general term for anyone in possession of property, but usually referring to anyone holding a promissory note, check, bond or other paper, either handed to the holder (delivery) or signed over by endorsement, for which he/she/it is entitled to receive payment as stated in the document. (See: check, bill of exchange, promissory note, bona fide purchaser, endorsement, holder in due course)

holder

noun endorsee, individual in possession, keeper, owner, payee, person in possession, possessor, receiver, recipient
Associated concepts: bona fide holder, holder for value, holder in due course, holder in good faith, holder of a lien, joint holder, legal holder, license holder, negotiable instruuents, original holder, policyholder, property holder, stockholder
See also: bearer, catchall, coffer, depository, receiver, recipient, tenant

holder

a payee or indorsee in possession ofa bill of exchange or promissory note.

HOLDER. The holder of a bill of exchange is the person who is legally in the possession of it, either by endorsement or delivery, or both, and entitled to receive payment either from the drawee or acceptor, and is considered as an assignee. 4 Dall. 53. And one who endorses a promissory note for collection, as an agent, will be considered the holder for the purpose of transmitting notices. 2 Hall, R. 112; 6 How. U. S. 248; 20 John. 372. Vide Bill of Exchange.

References in classic literature ?
Their hands touched in the dark and she took the box while he held the paraffin soaked torch in its iron holder.
Powell inverted the holder, smothering the flame in the can, bringing about by the mere turn of his wrist the fall of darkness upon the poop.
Tulliver's bed,--and propping the lid with the iron holder, without much noise.
Glegg had lifted out the parchments, and had fortunately drawn back a little, when the iron holder gave way, and the heavy lid fell with a loud bang that resounded over the house.
To be short, among whalemen, the harpooneers are the holders, so called.
If the mothers of the free states had all felt as they should, in times past, the sons of the free states would not have been the holders, and, proverbially, the hardest masters of slaves; the sons of the free states would not have connived at the extension of slavery, in our national body; the sons of the free states would not, as they do, trade the souls and bodies of men as an equivalent to money, in their mercantile dealings.
That the telephone is now doing most of all, in this binding together of all manner of men, is perhaps not too much to claim, when we remember that there are now in the United States seventy thousand holders of Bell telephone stock and ten million users of telephone service.
Stocks are up, just at present, partly because of a brisk demand created by the recent return of the Sultan's suite from the courts of Europe; partly on account of an unusual abundance of bread-stuffs, which leaves holders untortured by hunger and enables them to hold back for high prices; and partly because buyers are too weak to bear the market, while sellers are amply prepared to bull it.
Many smaller holders followed suit, and yet never for a moment did the market waver.
We could do this easily enough by depressing the market and frightening the holders.
The holders of the lists occupied the end which was nearest to the city gate.
Wardle's mother--occupied the post of honour on the right-hand corner of the chimney-piece; and various certificates of her having been brought up in the way she should go when young, and of her not having departed from it when old, ornamented the walls, in the form of samplers of ancient date, worsted landscapes of equal antiquity, and crimson silk tea-kettle holders of a more modern period.