Requisites of acceptance - rules relating to acceptance, Business Law and Ethics

Requisites of Acceptance - Rules Relating To Acceptance

Section number S.17 (2) provides like an acceptance is invalid unless since it complies with the following conditions: like;

(i)It have to be written on the bill and where be signed through the drawee; such the mere signature of the drawee without more like words is sufficient so. Second is

(ii)It have not express such type of the drawee will perform his promise through any other means than so just the payment of money there.

However acceptance is not complete and revocable and does not bind the acceptor, so the bill has been delivered until—such is to say, handed back to the person presenting it as well.

However in Baxendale v Bennett: such the defendant received from H a draft in like blank like to the drawer's name, whether written in H's handwritting. Hence over the defendant wrote his name across such the draft as acceptor and that sent it to H who, that finding he did not necessitate it, so returned it to the defendant. The defendant located it in an unlocked drawer in such his chambers in the Temple, so from which it was taken such. Because it came in the hands of the plaintiff, a bona fide holder for value, such the document had been completed through the insertion of the name of W. Conversely Cartwright like the drawer. So perhaps no such person like Cartwright was such known to the defendant, and that the name was inserted lacking his knowledge or such consent. However it was held such the defendant was not liable at the document, like even though he had accepted it, but he had not delivered it there.

Posted Date: 2/2/2013 8:25:32 AM | Location : United States

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