Negotiable instrument

Assignment on Negotiable Instrument Course Title: Legal Environment of International Business Prepared by: Farha Fatema Date of Submission: 28/04/2011 Executive Summary Negotiable instruments are written orders or unconditional promises to pay a fixed sum of money on demand or at a certain time. Promissory notes, bills of exchange, checks, drafts, and certificates of deposit are all examples of negotiable instruments. Negotiable instruments may be

Negotiable instruments make the economy go around. That is why the law on negotiable instruments is important and why the work of the Uniform Law Commissioners has been lasting and uniformly adopted on this subject. A negotiable instru¬ment is either a “draft,” of which the most common sub¬category is the “check,” or a “note.” A “draft” is merely an order from one person to another to pay money to a third person. A check is a species of a draft. A person writes checks on a bank account which

The Negotiable Instrument Act 1881 Compiled By Neelakshi Jaidka OBJECTIVES After reading this lesson, you should be able to- • Understand meaning, essential characteristics and types of negotiable instruments; • Describe the meaning and marketing of cheques, crossing of cheques and cancellation of crossing of a cheque; • Explain capacity and liability parties to a negotiable instruments; and • Understand various provisions of negotiable instrument Act, 1881 regarding negotiation, assignment

is called a negotiable instrument. The negotiable instrument guarantees the specific amount of money to be paid on demand or a set time, with the payee normally named on the document. This instrument is governed by state statutory law. Each state has implemented with some modifications Article 3 of the Uniform Commercial Code (UCC). The UCC defined the validity of a negotiable instrument. The validity of a negotiable instrument must comply with seven requirements by law. An instrument becomes invalid

money is called a negotiable instrument. Explicitly, the negotiable instrument guarantees the precise amount of money to be paid on demand or a set time, with the payee normally named on the document. This instrument is governed by state statutory law. Autonomously, each state has implemented with some modifications Article 3 of the Uniform Commercial Code (UCC). The UCC defined the validity of a negotiable instrument. Unconventionally, the validity of a negotiable instrument must comply with seven

Introduction When one party receives a check and transfers it, is the transferee a holder in due course? The response to this question is it depends on the facts and circumstances. The assumption and implication of good faith play a role in determining a holder in due course. In our case, one party is attempting to take advantage of the other through fraud and deceit. This paper explores who is a holder in due course, the influence of fraud and deceit, the role of the stop payment, and who is

PERFORMANCE OF CLEARING FUNCTION MEANING OF CLEARING: The word clearing has been derived from the word “clear” and is defined as: CLEARING HOUSE: Initially state bank of Pakistan provides the facility of clearing in its clearing house where representatives of all banks sit together and interchange their claims against each other. But now state bank of Pakistan has assigned this responsibility to National Institute of Facilitation Technologies (NIFT). It is one of the services provided by NIFT

Land Smuggling currency across land, although lacking in speed and the ability to reach many international destinations, is still a relatively easy way to transport cash. US customs presence tends to be less at outbound stations. Inspections tend to be infrequent as they interfere with the flow of traffic and at times cause massive traffic congestion. Another advantage of land border crossings is that vehicles in which to conceal the currency are easy to obtain. Customs officials have found currency

Running head: BACKOFFICE BUSINESS BRIEF 1 Business Law and Ethics BackOffice Business Brief Patten University BACKOFFICE BUSINESS BRIEF 2 Constitutional Rights and Guarantees BackOffice is a new startup business that will provide potential clients with an application (app) that woul d automate certain business functions. BackOffice will be selling the app to certain business clients that will use it to facilitate their customers’ transactions. It is important that the owner of this company seek

Fine Furniture, Inc. and Jaguar Interiors both agreed to terms of a sales contract. A contract involves two or more parties promising to perform an action in exchange for consideration. Consideration is what each party receives in return for each party’s promise in the contract. In this example, a sale of goods was involved. A sale means that the seller is passing title, or ownership, of the goods to the buyer for a price. Goods are physical items that can be moved at the time of identification to