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Holder in Due Course
A party that has acquired a negotiable instrument in good faith and without notice of any defect in title.
Maker
The individual or entity that creates or produces an item or is the original writer of a check or promissory note.
Without Recourse
A term indicating that the holder of a financial instrument cannot demand payment from the issuer in the case of default.
Banking Day
A business day during which financial institutions are open for business with the public.
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