Analyze Payment Diploma For Free

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The payment must be made by or on behalf of the drawee or acceptor. It must be made in money (or by cheque if accepted to the holder). The payment should be made in good faith, without negligence. It must be honestly made in the bonafide belief that the person demanding payment is legally entitled to it.

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And under each method (say, credit cards), you have a host of options (Visa, Mastercard, and American Express, to name a few). In fact, there are more than 200 alternative payment methods worldwide.

Payment in due course is a payment made at or after the maturity of a bill of exchange to the holder of the bill by a payer in good faith and without notice that the holder's title might be defective. A bill is discharged by payment in due course by or on behalf of the drawee or acceptor.

Filters. The payment of a negotiable instrument to the holder on or after its due date in good faith by the payer and with no notice of any defect in title. See also holder in due course.