Characteristics of Negotiable Instrument

It is an instrument, in writing.

Property in the instrument passes from hand to hand by mere delivery.

The holder has a right to sue in his own name.

The holder in due course is not affected by defects in the title of his transfer or of previous holders.

Reading: Web-Hosting Providers in Pakistan

Without giving notice of assignment to any previous party liable in respect of it.

The holder in due course is not affected by certain defenses which might by available against previous holders, e.g. fraud to which he is not a party.

It can be conveniently assigned in discharge of debts.




2 comments:

We value your words. Don't spam here.

Powered by Blogger.