lecture-24 - LESSON 24 TUTORIAL THE NEGOTIABLE INSTRUMENT...

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These questions are intended to enable the student to test his knowledge before proceeding to answer the test paper. The answer to these questions are not required to be written out or submitted for evaluation. (The Answers are given at the end). 1. X signs a negotiable instrument in the following terms. a)“I promise to pay X or order Rs. 400”. b)“I acknowledge myself to be indebted to X in the sums of Rs. 400 to be paid on demand for value received”. c)“Mr. X, I.O.U. Rs. 800”. d)“I promise to pay X Rs. 400 and all other sums which shall be due to him”. e)“I promise to pay X Rs. 400 first deducting thereout any money which he may owe me”. f)“I promise to pay X Rs. 400 seven days after my marriage with Z” g)“I promise to pay, X Rs. 400 on P’s death provided P leaves me enough to pay that sum. (h) “I promise to pay Rs. 400 and deliver to him may black horse on Ist July next.” Which of the aforesaid instruments are not promissory notes? 2. State whether the following bills are “inland” bills. a)Bills drawn outside India and made payable in or drawn upon any person resident in any country outside India. b)A bill drawn in Calcutta on a merchant in Bombay but endorsed in Paris.
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This note was uploaded on 09/27/2011 for the course BUS 100 taught by Professor Sherry during the Spring '11 term at Faculty of English Commerce Ain Shams University.

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lecture-24 - LESSON 24 TUTORIAL THE NEGOTIABLE INSTRUMENT...

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