FAMOUS CASES ON NEGOTIABLE INSTRUMENTS ACT* LIABILITY OF PAYING BANKER WHEN CUSTOMER’S SIGNATURE ON CHEQUE IS FORGED 1. When the customer’s signature on the cheque is forged there is no mandate to the bank to pay. As such a banker is not entitled to debit the customer’s account on such forged cheque. In Canara Bank vs. Canara Sales Corporation and Others [(1987)2 Supreme Court Cases 666] the company has a current account with the bank which was operated by the Company’s Managing Director
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CPA Regulation Negotiable Instruments and Secured Transactions Negotiable Instruments and Secured Transactions What is a note and who are the parties to a note? © 2011 HOCK international 91 A note is a written promise to pay money. Notes are different from drafts in that notes are a promise to pay. If there is any doubt whether a document is a note or a draft‚ the holder of the document can decide what it is. There are two parties involved in a note. 1) The Issuer (Maker) is
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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
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NEGOTIABLE INSTRUMENTS LAW DEFINITIONS: 1) PROMISORY NOTE – It is an unconditional promise in writing made by one person to another‚ signed by the maker‚ engaging to pay on demand‚ or at a fixed or determinable future time‚ a sum certain in money‚ to order or to bearer. (Sec. 184‚ NIL) 2) BILL OF EXCHANGE – It is an unconditional order in writing‚ addressed by one person to another‚ signed by the person giving it‚ requiring the person to whom it is addressed‚ to pay on demand‚ or a fixed or determinable
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Flight Instruments It seems as if though cockpits of modern jets are becoming more and more intricate and complex. The have added greatly to the primary flight instruments and have filled vast amounts of space in cockpits. It is still very relevant to the aircraft for which it is designed‚ but lets get back to basics. Lets cut out all of the excess and focus on a few primary instruments‚ instruments that one would be guaranteed to find no matter the plane. These are the instruments that make
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NEGOTIABLE INSTRUMENTS LAW 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 holder in due course the right to hold the same and collect the sum due PROMISSORY NOTE • unconditional promise in writing made by one person to another signed by the maker • engaging to pay on demand‚ or at a fixed or determinable future time a sum certain in money to order or to bearer
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Texas Instruments Facts: * The company was founded in 1930 as Geophysical Service Inc. * GSI used seisms signal processing technology to search for oil. * GSI was sold to four of its mangers eleven years after its formation. * Texas Instruments Incorporated is headquartered in Dallas‚ Texas. * The company has manufacturing‚ design and sales operations in more than 25 countries. * It has three separate business segments: (1) Semiconductor 85%. (2) Sensors & Controls
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OUTLINE The Advantages and Disadvantages when Playing A Musical Instrument. I. Introduction There are several advantages and disadvantages when playing a musical instrument. (Thesis Statement) Body II. The first advantage of playing musical instrument is increase the capacity of your memory. A. Stimulate your brain and can increase your memory. 1. The part of the brain that control motor skills such as using your hands‚ running and swimming will become more active. 2. Help your IQ increase
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secular and religious music‚ they had instruments use and they would also change it. During the Middle Ages‚ Islam was a major influence on Western European music‚ as a result Europeans were able to make their own types of music‚ create unique instruments‚ and make significant changes to the format of music. Paragraph 1 Western Europe adopted ideas from the east to further their musical knowledge. As a result of trade and travel ideas spreader faster‚ "these instruments appeared
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There is a four-stringed musical instrument which has been making the history of music in Europe musically rich. This instrument is called the violin. This four-stringed instrument has been immensely used in both Classical and modern music. It has been a timeless instrument that has been present in European music history. Musicians adore it because of its delightful musical capabilities. As a background‚ Peter Gammond stressed that‚ “The violin is capable of great agility and violinists like to show
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