indorsee in due course
Defined in 3 dictionaries — Case Law, Ballentine's (1916), Bouvier (1914)
Definitions from Case Law
United States Supreme Court
one who in good faith, in the ordinary course of business, and for value, before its apparent maturity or presumptive dishonor, and without knowledge of its actual dishonor, acquires a negotiable instrument duly indorsed to him, or indorsed generally, or payable to the bearer.
Defined by the Supreme Court in Thompson v. Sioux Falls Nat Bank, 150 U.S. 231.
Ballentine's Law Dictionary
James A. Ballentine · 1916
Bouvier's Law Dictionary and Concise Encyclopedia
John Bouvier; revised by Francis Rawle · 1914
An indorsee in due course Is one who, in good faith, in the ordinary course of business, and for value, before its apparent maturity or presumptive dishonor, and without knowledge of its actual dishonor, acquires a negotiable Instrument duly indorsed to him, or indorsed generally, or payable to the bearer.