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Negotiable Instruments

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Negotiable Instruments is a topic under Banking Law.

Three classes of negotiable instruments are popular:

Essential features of a Negotiable Instrument

  • It must be in writing
  • It must be signed by the maker or drawer
  • There must be a promise or an order to pay
  • The promise or order must be unconditional
  • It must call for payment in the form of money and money only
  • It should call for the payment of certain sum
  • The property in the instrument passes by mere delivery
  • The consideration is also presumed to have been passed
  • "At sight", 'On presentment" and "After sight"
  • Negotiation by delivery and Negotiation by Indorsement

List of Negotiable Instruments according to English Common Law

Related Cases

  • Webb, Hale & Co vs Alexendaria Water Co (1905) 93 LT 339: Share warrant is a negotiable instrument

Not fully negotiable instruments

Related Acts

Related Topics