Qualified acceptance, Business Law and Ethics

Qualified Acceptance

It might be as the drawee is prepared for accept the bill since only subject to some adjustment. Any type of acceptance which varies the effect of such a bill like originally drawn is termed like a qualified acceptance. But a qualified acceptance perhaps will be any of the following: like;

(a) Partial

An acceptance for pay only part of a bill; like e.g. a bill drawn for the amount such of £5,000 may perhaps be accepted for like £4,000 only there.

(b) Local

An acceptance for pay the bill only on a certain place so or whether the acceptor stipulates such he will pay the bill at like this place only so, and like nowhere else there.

(c) Conditional

An acceptance for pay the bill only on a certain place so such the acceptor stipulates just he will pay the bill on delivery like of landing of the bills.

(d) Qualified as to time

An acceptance to pay a bill drawn payable rather after one month, so only after six months there.

(e) Acceptance by some only of several drawees

An acceptance will be interpret like general unless clearly qualified, such the acceptance being construed more strongly against such the acceptor like Smith v Vertue there.

Posted Date: 2/1/2013 8:23:08 AM | Location : United States







Related Discussions:- Qualified acceptance, Assignment Help, Ask Question on Qualified acceptance, Get Answer, Expert's Help, Qualified acceptance Discussions

Write discussion on Qualified acceptance
Your posts are moderated
Related Questions
Proceedings at meetings - Held: Held: The resolution as passed was invalid since it was not the special resolution of which notice had been given.  Even the retention of 321 p

QUESTION 1 What are the duties of an Occupational, Safety and Health officer in an organization? QUESTION 2 Section 47 (1) of the Occupational, Safety and Health Act st

The second factor which is necessary for a claimant to impose claim on other person is to have a cause for the action taken by him. Hence it is important to have a proper link betw

Payment to Promoters:   A promoter has no legal right against the company he promotes. The main reason is that the company did not ask him to promote it, and because the compa

District Magistrate's Court - Territorial Jurisdiction Further in Section 7(3) of the Act giving that 'a district magistrate's court shall have jurisdiction all through the di

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

Q. Evaluate nature of phoenix activity? The literature on phoenix activity and the stakeholders consulted in this project emphasised that phoenix activity has evolved significa

Appointment of Directors: In the absence of other provisions in a company's articles, the directors of the company would be appointed in accordance with the following provisio

John, a young CPA and one of the audit team members for Moulberg Electrical Appliances Ltd, has developed very good insights into the company's systems in the last 12 months and wa

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