Negotiable Instruments Law (Act No. 2031) Chapter I. INTRODUCTION 1. The Negotiable Instrument Written contract for the payment of money‚ by its form intended as substitute for money and intended to pass from hand to hand to give the HDC the right to hold the same and collect the sum due. Instruments are negotiable when they conform to all the requirements prescribed by the NIL (Act 2031‚ 03 February 1911). Although considered as medium for payment of obligations‚ negotiable instruments are not legal
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Supposed to be drawn against previous deposits of funds Need not be drawn against a deposit Need not be presented foe acceptance Required to be present for acceptance in certain cases Ordinarily intended for immediate payment For circulation as an instrument of credit The death of the drawer of a check with the knowledge of the bank revokes the authority of the bank to pay The death of the drawer of an ordinary bill does not revoke the authority of the drawee to pay Must be presented for payment within
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Justice is defined as putting something at its place ‚ fairness indistribution of resources . A good law must be universal ‚ must be public and must be final besides being decided between competing interest . But ‚ still there is no relation or equation between law and justice . The term law and justice always be used to reflect the law purpose . Although it reflect the law purpose ‚ but not all people view law as just . For example in homosexual group view ‚ they view law as unjust as homosexual
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Law and Justice Abstract Justice is the quality of being fair or just. This is not an exhaustive definition of justice. Different philosophers have defined justice in different ways. Justice is a concept that provides balance between law and morality. Rawls proposition for law and justice has been accepted by world judicial fraternity as a landmark vision to understand the system. Similarly it has earned a good amount of criticism which shows the basic strength of the thought. As such: Rawls theories
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‘The law is an instrument of the ruling class.’ To what extent do sociological arguments and evidence support this view? (21 marks – 30mins) Traditional Marxists would argue that law making and law enforcement only serves the interests of the ruling class. Chambliss argued that laws to protect private property are the cornerstone of capitalist society. His argument was in regards to a case studied in Britain’s east African colonies. The British introduced a cash tax that if unpaid was a criminal
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Negotiable instrument From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search A negotiable instrument is a document contemplated by a contract‚ warranting (1) the payment of money‚ the promise of order for conveyance of which is unconditional; and‚ (2) which specifies or describes the payee‚ who is designated on and memorialized by the instrument and which is capable of change through transfer by valid negotiation of the instrument. As payment of money is promised subsequently‚ the
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AND JUSTICE FOR ALL Justice is defined as the quality of being fair and reasonable‚ though our justice system today is the opposite of just that; fair and reasonable. Though some receive justice‚ some are left without justice for themselves or their loved ones. It is especially disappointing when those who are innocent are wrongly convicted of crimes they didn’t commit‚ but are unable to provide solid evidence and proof of their innocence. It took Donald Marshall Jr. 11 years to get justice; in
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INTRODUCTION For decades now law and society theorists have been preoccupied with attempts to explain the relationship between legal and social change in the context of development of legal institutions. They viewed the law both as an independent and dependent variable (cause and effect) in society and emphasized the interdependence of the law with other social systems. In its most concrete sense‚ social change means large numbers of people are engaging in group activities and relationships
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Law Relating To Negotiable Instrument TABLE OF CONTENTS Acknowledgement 1. Chapter 1: Introduction 1. Objectives of the study……………...........................………………………6 2. Limitations of the study.................................................................................6 3. Research methodology………………………………………………...........7 2. Chapter 2:Law Relating to Negotiable Instrument 1. Negotiable Instrument………………………….....................…..…………8 2. Parties to Negotiable
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Examples of negotiable instruments A commercial paper is an instrument which embodies contractual rights‚ and the possession of the instrument is required to enforce those rights that are contained in it Although negotiable instruments (eg bills‚ cheques‚ promissory notes‚ certain bearer debentures‚ bonds and share warrants) are categorised as commercial paper‚ not all commercial papers are negotiable instruments. Examples of commercial papers which are not negotiable instruments include bills of lading
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