Features of negotiable instruments, Business Law and Ethics

Assignment Help:

Features of Negotiable Instruments

(i) Whether made payable to bearer, whether the title to it is negotiable through delivery. Although made payable for order, the title to such it passes through endorsement and delivery. Like Read Sec.31 (2) as and like 31 (3) of the Bills about Exchange Act since.

(ii) No notice of the transfer is required for be given to the person liable at the instrument.

(iii) The holder in due course possibly will sue on the document in such his own name but it becomes necessary, and is not affected through the privity of contract rule like.

(iv) Valuable consideration for such it may be constituted through "an antecedent debt or liability" like and the common law rule such against past consideration does not apply. Read Section number 27 (1) of the Act there.

NOTE:whether the brothers-in-law in like Re McArdle such had given their sister-in-law a promissory note or may bill of exchange payable after such the death of their mother, like they would have been liable for her and ordered to pay the by £488 there.

(v) A bona fide transferee like of a negotiable instrument takes whether it free from any defects in the title about the transferor, and such the common law rule like "nemo dat quod non habet" such does not apply to negotiable instruments, like unless the instrument such is a cheque crossed as "not negotiable" there.


Related Discussions:- Features of negotiable instruments

Identify the ethical issues, Mr. Gomez a former managing partner of the Gra...

Mr. Gomez a former managing partner of the Grant Thornton accounting firm, is currently serving first half of a 12- year prison term. In 1986, 39 year old Gomez pleaded guilty t

Labour laws , Labour Laws: The small units manufacturing items reserved fo...

Labour Laws: The small units manufacturing items reserved for manufacture in small scale sector do not require any prior license. This is a major relaxation where no licensing or

Define the term - agenda amendments, Define the term - agenda amendments ...

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

Determine the schemes of michael mandelbaum, Determine the schemes of Micha...

Determine the schemes of Michael Mandelbaum Michael Mandelbaum has offered a two fold scheme, the inside-out and outside-in approach. According to inside-out approach, a natio

Set of circumstances of policy maker, Set of circumstances of policy maker ...

Set of circumstances of policy maker The distinction leads to think what to say then, to a policy, which is feasible in only one set of circumstances. Then the expectations on

Criminal appeal - district magistrate''s court, Criminal Appeal - District ...

Criminal Appeal - District Magistrate's Court Therefore in Section 10(1) of the Magistrate's Courts Act gives that any person that who is convicted of an offence on the trial

Societies - unincorporated associations, Societies - Unincorporated Associa...

Societies - Unincorporated Associations However these types of associations are registered under the Societies Act 1968.  Section 2(1) of the Act justify a society very broa

Types of capital, Types of Capital: A company's capital at any given m...

Types of Capital: A company's capital at any given moment may consist of: a)      NOMINAL OR AUTHORISED CAPITAL This is the capital that is stated in the memorandum of a

State the legal consequences of an wrongful act, State the legal consequenc...

State the legal consequences of an wrongful act Article 28, 30 and 31 state the legal consequences of an internationally wrongful act. They are as follows:- Article 28: Lega

State article 2 of international law, State article 2 of International law ...

State article 2 of International law Article 2 states that there is no right of a State under international law to diplomatic relations; these exist by mutual consent. However

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd