Payment In Due Course Definition and Legal Meaning
On this page, you'll find the legal definition and meaning of Payment In Due Course, written in plain English, along with examples of how it is used.
What is Payment In Due Course?
It refers to the payment, which was due, made to the person who have by fraudulent means acquired the promissory note or bill of exchange, without the knowledge of the same. The actual owner of the promissory note or bills of exchange has to look for the receipent of such funds and cannot claim funds without such notes.