5 Questions
According to William Searle Holdsworth, how does he define the concept of negotiability?
William Searle Holdsworth defines the concept of negotiability as transferable under specific circumstances: they are transferable by delivery where they are made payable to the bearer, and they are transferable by delivery and endorsement where they are made payable to order.
What does the term 'negotiable' refer to?
The term 'negotiable' refers to transferable.
What is a negotiable instrument?
A negotiable instrument is a document guaranteeing the payment of a specific amount of money, either on demand, or at a set time, whose payer is usually named on the document.
Under what circumstances are negotiable instruments transferable according to the concept of negotiability?
Negotiable instruments are transferable by delivery where they are made payable to the bearer, and they are transferable by delivery and endorsement where they are made payable to order.
What does the term 'instrument' refer to in the context of negotiable instruments?
The term 'instrument' refers to a document giving legal effect by the virtue of the law.
Test your knowledge of negotiable instruments with this quiz! Learn about the features, types, and functions of negotiable instruments, including promissory notes, checks, and bills of exchange. Master the essential concepts of negotiability and transferability in commercial transactions.
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