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 pay-
