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<h1>Holder entitlement to possession and payment governs who may enforce a negotiable instrument, including when it is lost or destroyed.</h1> The holder of a promissory note, bill of exchange or cheque is the person entitled in his own name to possess the instrument and to receive or recover the amount due thereon from the parties thereto; if the instrument is lost or destroyed, the person so entitled at the time of such loss or destruction is the holder.