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







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