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Payee - Negotiable Instruments
Some the payee like:
(i) Section 7(1) gives such where a bill is not payable for the bearer, such the payee must be named otherwise indicated therein belong to reasonable certainty therer.
(ii) Section 7(3) gives such whether the payee is a fictitious or may nonexistent person, such the bill may be treated like payable to bearer there.
(iii) Section 7(2) gives such a bill may be drawn payable to two or more payees jointly, or may like be drawn payable to one of two as or several payees there.
(iv) Section 7(2) gives such a bill may be drawn payable for the holder of an office there also.
Define the subordinate legislation briefly. Subordinate legislation: • Regulations: It directly applicable and self-executing, no require for member state to create own
state the date on which the act came into force
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Liability: Liability under the section may arise on the death of a member if the death reduces the membership below the statutory minimum for the particular company and:
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