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Corporate & Other Laws
Kindly give some examples for both v & vi
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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.
Thread Starter
GOKULA LAKSHMIKindly 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%