FELTON, Chief Judge.
The contracts in this case were executed before the effective date of the Uniform Commercial Code, January 1, 1964. "A holder in due course is a holder who has taken the instrument under the following conditions: (1) That it is complete and regular upon its face; (2) That he became the holder of it before it was overdue, and without notice that it had been previously dishonored, if such was the fact;
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