Overdue paper
Defined in 1 dictionary — Case Law
Definitions from Case Law
From 39 U.S. 318 - Samuel Fowler v. Harris Brantly · 1840Most cited · 29 citing opinions
A note over-due, or bill dishonoured, is a circumstance of suspicion, to put those dealing for it afterwards on their guard; and in whose hands it is open for the same defences it was in the hands of the holder when it fell due. After maturity, such paper cannot be negotiable 'in the due course of trade;' although still assignable.