Introduction Meaning of Negotiable Instruments Characteristics of a negotiable instrument Presumptions as to negotiable instrument Types of negotiable Instrument 1.5.1 Promissory notes 1.5.2 Bill of exchange 1.5.3 Cheques 1.5.4 Hundis 1.6 Parties to negotiable instruments 1.6.1 Parties to Bill of Exchange 1.6.2 Parties to a Promissory Note 1.6.3 Parties to a Cheque 1.7 1.8 Negotiation 1.7.1 Modes of negotiation Assignment 1.8.1 Negotiation and Assignment Distinguished 1.8.2 Importance of delivery in negotiation
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Part A: Long-term debt can generally be classified into three different categories: bonds payable‚ notes payable‚ and capital leases. Bonds payable can be secured by collateral‚ such as a mortgage bond‚ or unsecured‚ backed only by a company’s promise to pay. Most bonds carry a stated rate of interest but others are sold at a discount with an implied rate of interest inherent in the discounted sale. Some bonds can be converted into other securities. Other bonds can be called in by the corporation
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coins and notes can tell Here are some notes and coins. Can you spot the ones used in India? What do we call the note and the coin in India? You are right! In India the note is called a Rupee and the coin is called a Paisa Do the Rupee ad the Paisa tell you something? Let’s observe! Look at the coin carefully. What can you see on the coin? What is at the centre of the coin? What does the number stand for? What is written on the coin? Note in how
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(Dispositions‚ Including Condemnation‚ Demolition‚ and Trade-In) Presented below is a schedule of property dispositions for Hollerith Co. Schedule Of Property Dispositions Accumulated Cash Proceeds Fair Value Nature of Cost Depreciation Depreciation Land 40‚000 31‚000 31‚000 Condemnation Building 15‚000 3‚600 Demolition Warehouse 70‚000 10‚000 74‚000 74‚000 Destruction by fire Machine 8‚000 2‚600 900 7‚200 Trade in Furniture 10‚000 7‚650 3‚100 Contribution Automobiles 9‚000 3‚400 2‚960
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whether the following provisions in a note impair or preclude negotiability‚ the instrument in each instance being otherwise in proper form. Answer each statement with either “Negotiable” or Nonnegotiable” and explain why. A. A note signed by Henry Brown in the trade name of the Quality Store. Nonnegotiable‚ no fixed amount. B. A note for $850‚ payable to the order of TV Products Company‚ “If‚ but only if‚ the color television set for which this note is given proves entirely satisfactory to
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maturity to the holder of the instrument if the maker or acceptor is to be discharged. A payment by a party who is secondarily liable does not discharge the instrument. By party primarily liable by becoming holder (Section 90): If the maker of a note or the acceptor of a bill becomes its holder at or after its maturity in his own right‚ The Negotiable Instruments Act‚ 1881 4.5 instrument is discharged. By express waiver: When the holder of a negotiable instrument at or after its maturity
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BUSINESS LAW Course Code: MGBLW 10201 Credit Units: 03 No. of hours : 33 Course Objective: The objective of the course is to acquaint the management students with the basic fundamentals of business related laws and to understand its linkages with other fields of management which have significant bearing on business organization Course Contents: Module I: Companies Act‚ 1956 Meaning‚ definition and characteristics
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November 1‚ Bahama Cruise Lines borrows $3 million and issues a six month‚ 6% note payable. Interest is payable at maturity. Record the issuance of the note and the appropriate adjustment for interest expense at December 31‚ the end of the reporting period. (Enter your answers in dollars not in millions. Do not round intermediate calculations. Omit the "$" sign in your response.) Date Nov. 1 General Journal Cash Notes payable Debit 3‚000‚000 Credit 3‚000‚000 30‚000 30‚000 Dec. 31 Interest expense
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“The Lost Art of Thank-You Notes” It has become unfortunate that something as simple as a thank-you note has been slowly forgotten and less prominent to the point that when one is actually received‚ it almost seems unusual. I believe Randy Pausch was correct when he said‚ “Showing gratitude is one of the simplest yet most powerful things humans can do for each other.” The thank-you note is old-fashioned‚ simple and personal at the same time. Nevertheless‚ the emotion and gratitude that the gesture
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Personal Accounts - Jose‚ cyndie or any other person or any company’s account in business (3) Debit all the Expenses and losses & Credit all the Incomes and gains. [Nominal Account] Nominal Accounts - All Income‚ Expenses‚ Profit‚ Losses Accounts Note:- (1) Debit if there is a decrease in
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