Holder of Bill

A person who hold the bill with his name with possession of bill and claim the amount due on it, is called holder of bill.

An individual who has lawfully received possession of a commercial Paper, like a check, and who is entitled to payment on such instrument.

A holder is distinguishable from a holder in due course since, in addition to possession of the instrument, the latter takes it for worth, in good faith, and in the absence of any notice that there's any claim against it or that it is owed or has been dishonored, which means that payment of it's been refused.