Who is the holder of cheque - LawyersThink

Who is the holder of cheque:

The “holder” of a promissory note, bill of exchange or cheque means any person entitled in his own name to the possession thereof and to receive or recover the amount due thereon from the parties thereto.

Where the note, bill or cheque is lost or destroyed, its holder is the person so entitled the time of such loss or destruction.

The term “holder” as defined in Section 8, would not include a person, who, though in possession of the instrument, had no right to recover the amount due from the parties thereto, such as the finder of a lost instrument payable to bearer or a thief in possession of such an instrument, or even the payee, himself if he's prohibited by an order of  Court from receiving the amount due on the instrument. But a holder of a pronote in whose favour it was endorsed by a payee can file suit in his own name even though he is not a holder in due course.

No person can sue on a negotiable instrument unless he's named there in as the payee or has become entitled to it as endorsee or has become the bearer of an instrument payable to bearer. All that the expression “any person entitled in his own name” means is that the person should be entitled to possession in his own name and Sue upon it though his name does not appear on it. This expression was introduced to buy the legislature with a view to prevent anyone from claiming the rights of a ‘holder’ on the ground that the ostensible holder is only a name lender. These words are used to purposely to avoid benami transactions. But the principal that one who is not a ‘holder’ cannot sue to recover money due under a negotiable instrument is inapplicable to cases where a Note or bill develops by operation of law

What are the liability of Troy of cheque the Droid of a cheque having sufficient forms of the dryer in his hands properly applicable to the payment officer cheque must pass the cheque when the lyric wires sold to do and in default of search payment must compensate there over for any lost or damage caused by search default on the visual examination no sign of forgery or tampering with the ratings on the cheque could be detected by the bank there was evidence on record that the agent of the bank had taken the character verified serial number of the cheque the signature on the cheque with the specimen signature of the constituent namely the drawer and honor true stroke teeny off the cheque visually no defect could be detected by him the drawer and head sufficient amount in the bank to cover the set amount set payment and the cheque subsequently there or what after receptive statement of account rest and objection that the amount of cheque what strongly debated for rupees 6500 the agent of the bank thereafter examiner cheque under the ultraviolet rain lamp and found that the writing on the cheque was chemically altered with regard to dirt dirt the name of the pay and also the amount there are my demons to the bank to Credit the same amount to his account it was held that intersection 31 the bank and liability to Hannah does set cheque and made payment if the cheque was otherwise in order payment India Court under Section 10 minutes payment in accordance with the Opera antenna of the instrument in good faith and without negligence in fact in the fact of the case there was no occasion food out about the chain Uranus of the cheque from the apparent a note of the instrument the payment of the state cheque and not be sure to have not been mad in good faith Bank a note visa to be guilty of negligence simply because and ultraviolet read lamp was not kept in the branch and the cheque-in question was not subjected hundred or a little lamb but even then it cannot be said that all done or 4:30 could be detected on visually scrutiny on the apparent channel of the cheque-in kitchen and the reasonable care by the way of

Off additional precaution and by not taking such extra precaution the bank may be hella guilty of negligence