Features of negotiable instruments, Business Law and Ethics

Features of Negotiable Instruments

(i) Whether made payable to bearer, whether the title to it is negotiable through delivery. Although made payable for order, the title to such it passes through endorsement and delivery. Like Read Sec.31 (2) as and like 31 (3) of the Bills about Exchange Act since.

(ii) No notice of the transfer is required for be given to the person liable at the instrument.

(iii) The holder in due course possibly will sue on the document in such his own name but it becomes necessary, and is not affected through the privity of contract rule like.

(iv) Valuable consideration for such it may be constituted through "an antecedent debt or liability" like and the common law rule such against past consideration does not apply. Read Section number 27 (1) of the Act there.

NOTE:whether the brothers-in-law in like Re McArdle such had given their sister-in-law a promissory note or may bill of exchange payable after such the death of their mother, like they would have been liable for her and ordered to pay the by £488 there.

(v) A bona fide transferee like of a negotiable instrument takes whether it free from any defects in the title about the transferor, and such the common law rule like "nemo dat quod non habet" such does not apply to negotiable instruments, like unless the instrument such is a cheque crossed as "not negotiable" there.

Posted Date: 2/1/2013 6:31:41 AM | Location : United States

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