from
Bouvier's Law Dictionary, Revised 6th Ed (1856)
HOLDER. The holder of a bill of exchange is the person who is legally in the
possession of it, either by endorsement or delivery, or both, and entitled
to receive payment either from the drawee or acceptor, and is considered as
an assignee. 4 Dall. 53. And one who endorses a promissory note for
collection, as an agent, will be considered the holder for the purpose of
transmitting notices. 2 Hall, R. 112; 6 How. U. S. 248; 20 John. 372. Vide
Bill of Exchange.