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Negotiable instruments act

Corporate & Other Laws

Notice not necessary sec 98 Dispensed by party means ?? And countermanded payment means ??

Aswini Gorige

CA Inter

★ 7K+

20-Jun-21 16:41

376

Answers (4)

Best Answer

Dispensed by party: Party itself told notice necessary. Dispensed - exeamption, managed without it, get rid of Countermanded payment: Drawer has asked the bank not to make payment

Sahibdeep Singh

CA Inter

★ 14K+

21-Jun-21 07:42

When it is dispensed with by the Party entitled thereto: The Drawer declares to the Holder that he will see whether or not the bill is paid by the acceptor on maturity, in such case, a notice of dishonour is not required. In 2nd point, countermanded means cancelling officially.

Balamurali Unnithan M S

CA Inter

★ 3K+

20-Jun-21 19:03

Sahibdeep Singh

Dispensed by party: Party itself told notice necessary. Dispensed - exeamption, managed without it, get rid of Countermanded payment: Drawer has asked the bank not to make payment

Tq sir

Thread Starter

Aswini Gorige

CA Inter

★ 7K+

21-Jun-21 13:33

Balamurali Unnithan M S

I asked meaning

Thread Starter

Aswini Gorige

CA Inter

★ 7K+