Acceptance - negotiable instruments, Business Law and Ethics

Acceptance - Negotiable Instruments

Meaning

The word "acceptance" such used in relation to bills of exchange like has a special meaning also. Acceptance of a bill of exchange is the signification through the drawee such he accepts the order of the drawer for pay over the sum stated for the payee. A bill of exchange is used through a debtor to settle his account with his creditor through, being an order to someone else for pay the sum stated like as opposed to a promise through the drawer to pay there, the creditor is not such normally going to take the bill in settlement unless whether the drawee acknowledges like he will meet the bill like and, since in totting up, if is a person of substance; so until he does make that acknowledgement, thus the drawee is under no liability at same the bill.

Conversely in practice, the bill is normally handed to the payee for present it to the drawee for getting although the drawee agrees to pay the bill, because he will sign his name across it, and through that act he accepts such the liability to meet the bill whether it is duly presented for payment also there.

Posted Date: 2/1/2013 7:14:21 AM | Location : United States







Related Discussions:- Acceptance - negotiable instruments, Assignment Help, Ask Question on Acceptance - negotiable instruments, Get Answer, Expert's Help, Acceptance - negotiable instruments Discussions

Write discussion on Acceptance - negotiable instruments
Your posts are moderated
Related Questions
Special Courts However in addition to the courts dealt into paragraphs as 2.1 - 2.7 above, there exist in England a number of other institutions that are called "courts" or "t

Question  How does the RTL Code define a 'conflict of interest'?  Give one example of how the RTL Code suggests a conflict of interest may arise.

QUESTION 1 The global business sector has been expanding rapidly in Mauritius. Discuss the role of the FSC in this sector QUESTION 2 Tony is the director of Xservices L

Political and Education function of Chief Justice Political Function Moreover the chief justice administers the presidential oath for the person who is elected like pre

QUESTION 1 Discuss the procedural rules, ways and effectiveness how a- (i) Civil case; and (ii) criminal case is brought to court QUESTION 2 Discuss the different

Question 1: (a) What is meant by: (i) Ratio Decidendi (ii) Obiter Dicta (iii) Legal Doctrine (b) Distinguish between Criminal Law and Civil Law.

Mr. Hellerstein is a professor at Tahoe Law School located in Tahoe California. He lives in Nevada and commutes to Tahoe Law School, which is only a 50-mile, commute one way.  Duri

Restricted Names:  Section 17)1) of the Registration of Business Names Act provides that no company shall be registered under a business name: (a)     which contains any wo

State Article 6 of air and outer space law Article 6 states that no scheduled international air service may be operated over or into the territory of a contracting State, excep

Right to sell - Terms used in Contract With S.14 (a) provides that there is an implied condition such seller has a right for sell the goods and, like in the case of an agreeme