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
Patriot, Inc (a C corporation) filed for Chapter 11 bankruptcy protection during August, 2011 and has worked out a re-organization plan that was accepted by the Bankruptcy Court an

Extraordinary Universal Meetings: S.132(1) provides for the convening of "extraordinary" general meeting but does not define it.  Neither is the word "extraordinary" defined i

Define the term - agenda amendments The solution to the above lies in the rules of policy or agenda amendments and the real weapon in the hands of the voter is their ability t

Incorporation  Osborne's "Concise Law Dictionary" defines incorporation as a "merging together to form a single whole; conferring legal personality upon an association of indi

Inflationary Bias Another potential problem with the coordination of monetary policy is that it can worsen the inflationary bias within each country. If the costs associated wi

QUESTION 1 The use made of decision-making bodies such as commissions, boards, tribunals and statutory bodies for the purpose of achieving celerity in public affairs opens the

Consistent with the written Law However Islamic law is the law based on the Holy Koran and the teachings of the Prophet Mohammed as defined in his Sayings called "Hadith".

Officials defended China's efforts to stop rampant copying of movies and other goods, saying Thursday that 4,322 people had been convicted of product piracy last year and promising

Discuss the roles of law and courts in today''s business environment. •Compare and contrast the federal court structure with your Florida''s court structure. •Discuss the concept

Article 5 - State Responsibilty Article 5. Acts of persons authorized by a state to act on their behalf then the state is responsible for the actions of that person. For exampl