Richard D. Currier, Commercial Law
“ This does not mean, as is commonly supposed, that you are free from all liability as an indorser. We shall refer to this later.THE HOLDER IN DUE COURSE.—As we have seen, the distinguishing feature of the law of commercial paper is negotiability as distinguished from assignability. The principles of negotiability are designed very largely for the protection of the person whom we call the holder in due course. It is essential then to bear in mind the condition under which a person becomes such. ”
