Advantages of negotiable instruments, Business Law and Ethics

Advantages of Negotiable Instruments

(i) A negotiable instrument provides a creditor regarding a better remedy, since once it has been issued like or accepted whether applicable it settles the amount about the debt owing and makes a legal remedy like easier to obtain than would have been such the case under an ordinary contract. Moreover example like such there is no need to such for explain the terms of the contract but creates the debt so.
(ii) A negotiable instrument may be like discounted. Anyone who like holds the instrument so, and thus is entitled to claim the money at due date, that like can discount it through taking it to a bank or discounting house. Conversely the bank will in many cases, such be willing to such for take the instrument off the holder's hands, like and to pay him the agreed value and then collect the money whether as due.

(iii) A negotiable instrument can like be negotiated. Anybody who such holds a negotiable instrument, that a bill of exchange, like can transfer it to a creditor in such like payment and the payee could, he chose, utilized it in this manner to just when settle his debt with such another party.

Posted Date: 2/1/2013 6:27:04 AM | Location : United States







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

Write discussion on Advantages of negotiable instruments
Your posts are moderated
Related Questions
a) Explain two scenarios in which a restraint of trade clause would typically be used. b) Suppose your employer wanted to include a restraint of trade clause in your employment

What is meaning of Relative Price Effects This final linkage occurs when there is free exchange rate between countries, which means the exchange rate is allowed to appreciate o

Law Society of US Establishment However it is established through sec 3 of the Law Society of US Act Cap 18.  Hence it is a body corporate through the name Law Society

what meaning of sales of goods

The International Court of Justice The International Court of Justice (ICJ) issued a legal opinion on the legality of nuclear weapons, which says that the threat or use of forc

Utmost Good Faith Whether a partnership is such contract of the chief good faith. Every one partner is entitled for utmost gaviness rom his co-partners. Therefore this equitab

Qualifications of Judge Hence for qualify to appointment as a judge of the High Court a person must either be as; An advocate of the High Court or may Have b

Question 1: The Ministry of Agro Industry & Fisheries has come up with a new Fisheries and Marine Resources Act to provide a coherent legal and institutional framework with a v

READINGS: First Reading In this order 101 provides like "every Bill shall be read a First Time without motion made or enquiry put and shall be ordered to be read a second

State Article 16 of air and outer space law Article 16 states that the appropriate authorities of each of the contracting States shall have the right, without unreasonable dela