5 Questions
What is the characteristic of a negotiable instrument with regard to transferability?
Ownership is transferred to the transferee by delivery if payable to bearer
What is the right of the holder of a negotiable instrument?
Recover the money from the person liable on the instrument
What advantage does a holder in due course have over the previous parties?
Gets a better title than the person from whom he acquired the title
How is the ownership of a negotiable instrument payable to order transferred?
By endorsement and delivery
What does 'freely transferable' mean in the context of negotiable instruments?
Ownership is transferred to the transferee by delivery if payable to bearer
Test your knowledge of the nature and characteristics of negotiable instruments with this quiz. Explore the key features such as transferability, rights of the holder, certainty of the amount, and writing requirements as per section 13(1), section 8, section 5, and sections 118-119.
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