Requisites in form - negotiable instruments, Business Law and Ethics

Requisites in Form - Negotiable Instruments

 To satisfy to the statutory definition the document alleged such to be a bill of exchange must be: like

 (a) Unconditional. Example is: the drawer stipulates llike; 'provided such the receipt form on the foot hereof is duly signed', whether this is not a bill of exchange if there is a condition like imposed: as; Bavins, Junior and Sims v London and South Western Bank Limited. So.

 (b) An "order". To say "I shall be pleased whether you will pay" like is not an order even though a mere request, since the expression "please pay..." like is a polite order there.

 (c) "In writing". Whether this includes print and typewriting there.

 (d) "Signed" through the drawer. Nonetheless, a person's signature can be put to a bill through his agent there.

 (e) An order "to pay" like S.3(2)like gives that "which orders any act to be done in addition for the payment of money is such not a bill of exchange there."

Posted Date: 2/1/2013 6:41:08 AM | Location : United States







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