Holder not in due course is one who become a holder of the instrument without any, some, or all of the requisites under Sec.53 of the Negotiable Instruments Law.

Under the Uniform Negotiable Instruments Act, a holder in due course is one who meets two special pre-requisites:

# He became a holder of the check or note before it was overdue; and # He took it in good faith and for value, without any reason to know at the time the person selling it to him had defective title.

Otherwise, a holder is merely one who has received the check or note legally, by endorsement or delivey, and who is entitled to receive payment on the instrument.

a holder for soap

who is the lean holder

IS THERE A LEIN HOLDER