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

Assignment Help:

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.


Related Discussions:- Requisites of acceptance - rules relating to acceptance

Effects of an order for compulsory liquidation, Effects of an Order for Com...

Effects of an Order for Compulsory Liquidation: The effects of the order are follows as are: (a) the Official Receiver (an Official of the High Court whose duties relate ma

Private bill - categorization of law, Private Bill - categorization of law:...

Private Bill - categorization of law: In fact order 120 offers like whereas leave to proceed is granted the promoters shall:; as a. First is pay to the Clerk a fee of £10 f

Judicial limits and fact finding, American Courts, though vested with consi...

American Courts, though vested with considerable Constitutional authority, are limited in power by the other branches of the government, the States to some extent, and the people.

Action against fraudulent phoenix activity, In the paper Action against Fra...

In the paper Action against Fraudulent Phoenix Activity: Proposals Paper, Treasury made a range of recommendations to amend director's liability provisions and taxation law. Rec

Court, why is it important for a lawyer to address the victim

why is it important for a lawyer to address the victim

Employer pay severance allowance to his employee, QUESTION 1 What are t...

QUESTION 1 What are the consequences of a unilateral modification of a contract of employment of indeterminate duration by an employer? QUESTION 2 (a) In what circumsta

Division of companys powers, Division of company's Powers: Article 80 ...

Division of company's Powers: Article 80 of Table A states: "The business of the company shall be managed by the directors one who may... exercise all the such powers of th

Presentment for acceptance - rules relating to acceptance, Presentment for ...

Presentment for Acceptance - Rules Relating To Acceptance Even though a bill must be presented to with acceptance and be accepted through the drawee in order to render him lia

Define qualified and absolute privilege, 1. What is purpose of section 91 a...

1. What is purpose of section 91 and section 92 of the Constitution Act, 1982? 2. Explain the risk assumed by an unlicensed tradesperson (eg. Electrician or Plumber) when ent

Negotiable instruments - law of contract, Negotiable Instruments - Law of C...

Negotiable Instruments - Law of Contract However past services may constitute valuable consideration to a bill of exchange under by s.27 of the Bills of Exchange Act that prov

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