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NEGOTIABLE INSTRUMENT

Kindly give some examples for both v & vi

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GOKULA LAKSHMI

GOKULA LAKSHMI

CA Inter

780

22-Mar-21 08:30

23

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Kindly explain last point in this example

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GOKULA LAKSHMI

GOKULA LAKSHMI

CA Inter

780

22-Mar-21 08:58

Overall topic is Privileges of HDC. v. Example: Maker of the promissory note cannot make a plea that no consideration actually passed between him and the payee i.e. instrument is not originally valid. vi. Example: Drawer of the bill cannot make a plea that the payee was a minor or that he was insane and could not have indorsed the bill.


Sahibdeep Singh

Sahibdeep Singh

Moderator

22-Mar-21 11:29

Kindly explain last point in this example

We know holder of the bill can bring a case against any prior parties. Last point says if case was made against A (drawer), it will be liable to interest @15%


Sahibdeep Singh

Sahibdeep Singh

Moderator

22-Mar-21 11:33

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