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

Explain united nations commission on india and pakistan, Explain United Nat...

Explain United Nations Commission on India and Pakistan One such resolution dated 20th  January 1948 created United Nations Commission on India and Pakistan (UNCIP), which was

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

Winding-up, Winding-Up:    (a) A company is dissolved, i.e. ceases t...

Winding-Up:    (a) A company is dissolved, i.e. ceases to exist, when its name is removed from the register.  It is usually necessary, before it can be dissolved, to liquida

Lifting the veil of incorporation, Lifting the Veil of Incorporation: ...

Lifting the Veil of Incorporation: The legal rule that a registered company is at law a different person altogether from the subscribers to the memorandum of association and o

State article 1 of air and outer space law, Laws relating to air and outer...

Laws relating to air and outer space as follows: Article 1 states that the contracting states should recognize that every state has complete and exclusive sovereignty over the

Avoidance of floating charges, Avoidance of Floating Charges: Under s....

Avoidance of Floating Charges: Under s.314 liquidation automatically renders void any floating charge created within the period of 12 months before commencement of liquidation

Account for the importance of policy evaluation, QUESTION 1 Explain cle...

QUESTION 1 Explain clearly how Public Policy making constitutes a major function of Government QUESTION 2 Account for the role of Public opinion in the identification o

What are the right of confiscation and seizure, UNCTOC gives the right of C...

UNCTOC gives the right of Confiscation and Seizure to individual states. " 1. States Parties shall adopt, to the greatest extent possible within their domestic legal systems,

District magistrate''s court -civil appeals, District Magistrate's Court -C...

District Magistrate's Court -Civil Appeals Moreover in S.11 (1) of the Magistrate's Court Act gives that 'any person who is aggrieved through an order of a magistrate's court

Subject to it or affected it - african customary law, Subject to it or affe...

Subject to it or affected it - African Customary Law Mostly one of the parties must be subject to it or affected through it. Whether as the plaintiff and the defendant rel

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