Business, Legal & Accounting Glossary
n. the giving of funds to the holder of a promissory note or bill of exchange when due, without any knowledge that the document had been acquired by fraud or that the holder did not have valid title.
The true owner of the bill or note cannot also demand payment, but must look to the recipient of the funds.
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This glossary post was last updated: 29th April, 2020 | 0 Views.