51Presumption that holder is holder in due course

#### 51 Presumption that holder is holder in due course (1) Subject to subsection (2), the holder of a cheque shall, unless the contrary is proved, be presumed to be a holder in due course. (2) Where, in an action or proceeding on a cheque, it is admitted or proved that the drawing or issue, or a transfer by negotiation, of the cheque is affected by fraud, duress or illegality, the holder shall not be presumed, by virtue of subsection (1), to be a holder in due course unless and until the holder proves that, after the alleged fraud, duress or illegality, value was, in good faith, given for the cheque.