Rights of the holder:
• To sue on the bill in his own name
• To hold the bill free from any defects of title of the prior parties.
• To negotiate the bill.
Duties of a holder
• It is the duty of the drawer to present the bill to the drawee for acceptance.
• It is the duty of the payee to present the bill to the acceptor for payment.
Duties of a Payee
• If the bill is dishonoured, it is the duty of the payee to have it noted and/or protested.
• If the bill is dishonoured, it is the duty of the payee to notify the endorser.