Holder in Due CourseHDC

Conditions under Nepal's Act

• For a bearer instrument: the person who has come to have lawful title to it.
• For an order instrument: the payee or the person to whom it has been endorsed.
• In either case, the holder must have acquired the instrument before its payment date and without sufficient reason to believe that the person from whom it came had no title.

Privileges

• Gets a better title than the transferor: defences such as lack of consideration or defects between earlier parties generally cannot be raised against the holder in due course.
• A holder who takes from a holder in due course gets the same rights (Section 33).
• An instrument obtained unlawfully, or made without consideration, does not create liability between the parties to that act, but this defect does not defeat a later holder in due course (Section 26 read with Section 38).
• Prior parties remain liable to the holder in due course until the instrument is paid.

Why it matters The doctrine is what makes negotiable instruments acceptable in trade: a buyer of a bill can rely on its face without investigating every earlier transaction.

Limit "Not negotiable" crossing on a cheque prevents anyone from obtaining a better title than the transferor (Section 89).

नेपालको ऐनअनुसार शर्त

• लिई आउनेलाई भुक्तानी हुने अधिकारपत्रमा: कानुनबमोजिम हक प्राप्त गरेको व्यक्ति।
• अह्राएकोलाई भुक्तानी हुने अधिकारपत्रमा: भुक्तानी पाउने वा निजले दरपीठ गरिदिएको व्यक्ति।
• दुवै अवस्थामा भुक्तानी मिति नपुग्दै र हक दिने व्यक्तिको हक नभएको विश्वास गर्ने पर्याप्त कारणबिना प्राप्त गरेको हुनुपर्छ।

विशेषाधिकार

• हक दिनेको भन्दा राम्रो हक: प्रतिफल नभएको वा अघिल्ला पक्षबीचका त्रुटि जस्ता प्रतिरक्षा सामान्यतया रीतपूर्वकको धारकविरुद्ध उठाउन सकिँदैन।
• रीतपूर्वकको धारकबाट हक पाउने धारकको हक पनि उस्तै हुन्छ (दफा ३३)।
• गैरकानुनी रूपमा वा प्रतिफलबिना बनेको अधिकारपत्रले त्यस कामका पक्षबीच दायित्व सिर्जना गर्दैन, तर यो त्रुटिले पछिको रीतपूर्वकको धारकको हक हटाउँदैन (दफा २६ र ३८)।
• भुक्तानी नभएसम्म अघिल्ला पक्ष रीतपूर्वकको धारकप्रति दायी रहन्छन्।

किन महत्त्वपूर्ण यही सिद्धान्तले विनिमेय अधिकारपत्रलाई व्यापारमा विश्वसनीय बनाउँछ: बिल किन्नेले हरेक अघिल्लो कारोबार नखोजी अधिकारपत्रमै भर पर्न सक्छ।

सीमा चेकमा "विनिमेय गर्न नसकिने" रेखाङ्कनले कसैलाई पनि दिनेभन्दा राम्रो हक पाउनबाट रोक्छ (दफा ८९)।