Acceptance - negotiable instruments, Business Law and Ethics

Assignment Help:

Acceptance - Negotiable Instruments

Meaning

The word "acceptance" such used in relation to bills of exchange like has a special meaning also. Acceptance of a bill of exchange is the signification through the drawee such he accepts the order of the drawer for pay over the sum stated for the payee. A bill of exchange is used through a debtor to settle his account with his creditor through, being an order to someone else for pay the sum stated like as opposed to a promise through the drawer to pay there, the creditor is not such normally going to take the bill in settlement unless whether the drawee acknowledges like he will meet the bill like and, since in totting up, if is a person of substance; so until he does make that acknowledgement, thus the drawee is under no liability at same the bill.

Conversely in practice, the bill is normally handed to the payee for present it to the drawee for getting although the drawee agrees to pay the bill, because he will sign his name across it, and through that act he accepts such the liability to meet the bill whether it is duly presented for payment also there.


Related Discussions:- Acceptance - negotiable instruments

What is the principal-agent paradigm, What is the principal-agent paradigm ...

What is the principal-agent paradigm Controversies on the decisions of many state governors and other ministers can be cited as examples. Such behaviour reflects their willing

Can you describe international law, Q. Can you describe International law? ...

Q. Can you describe International law? International law comprises of a set of rules that govern the international relations between sovereign states. It can be classified into

Nature of a company, Nature of a Company: There is no precise legal de...

Nature of a Company: There is no precise legal definition of "a company". This is due to historical reasons which are too lengthy to be narrated in this text. Suffice it to sa

Commercial law, Commercial Law Alice is an 80 year old, illiterate, an...

Commercial Law Alice is an 80 year old, illiterate, and suffering from Alzheimer’s disease (a disease affecting short-term memory). Will is a social worker employed by the loc

Define the term - social attainment and economic growth, Define the term - ...

Define the term - social attainment and economic growth Many problems can also be seen either as private problem for those who experience them or as public policy failures that

Explain important part in the international law, Explain important part in ...

Explain important part in the international law The Use of force is a controversial and complicated issue at international level. The United Nations (UN) Charter declared it un

Liability - company secretary, Liability:             The secretary is...

Liability:             The secretary is an officer of the company and thus he owes fiduciary duties to the company which are similar to those of a director, eg. he must act in

Explain the conflicts involved in decision making, Question 1 Consider you...

Question 1 Consider you are the manager of a banking organisation. You find negligence Question 2 Explain the conflicts involved in decision making Question 3 Consider a

Explain responsibility of the state under international law, Explain respon...

Explain responsibility of the state under International law State responsibility upon a state and holding it responsible for a violation of an international law, the element of

The final stage of the policy making process, QUESTION 1 Give an accoun...

QUESTION 1 Give an account of the distinct methods according to which information can be collected for policy analysis QUESTION 2 "Policy Evaluation marks the final sta

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