Business law question number 243

1. Case study: [LAW CASE STUDIES] November 10, 2013 By means of fall preference A has obtain from B a cheque crossed "not negotiable" he took that cheque to a bank (other than drawee bank) which paid it. B sues the bank for conversion. 1. Has A committed any offence or irregularity. Under the negotiable instrument act. 2. Is B entitled to get any relief? 3. How will you decide the case Ans : The given case is under the chapter of negotiable instrument which means promissory notes, bills of exchange or cheque payable either to order or to bearer. In this set case because of fall preference A obtain a cheque from B a crossed cheque saying not negotiable. He took the cheque to bank (collecting banker) which paid it. Here the not negotiable word came on crossing because of this crossing the cheque becomes made available to pay to bearer that is to anyone who holds it therefore here A did a lawful negotiation as he got a cheque and went to the collecting banker who collects the cross checks on behalf of their customer, Because of not negotiable tittle bank paying in good faith and without negligence to their regular customer to ensure the interest of customers. Judgement: Here the cheque is crossed with the the label "not negotiable" which means the transferee cannot get a better title than that of transferor. It also means that it can be paid only to a certain person. A negotiable cheque is one which is made payable to bearer that is to anyone who "holds it. Here because of fall preference A has obtain a cheque because of that "not negotiable" cross cheque gives authority to receive the payment of check therefore A followed the rules and regulations covered under negotiable instrument hence A the did not committed any offence or irregularity under the Negotiation instrument. Here because of fall preference A obtain a cheque from B with the cross cheque "not negotiable" because of this crossing the cheque becomes made available to pay to bearer that is to anyone who holds it. Hence here B will not get any relif as the transaction is lawful under the negotiable instrument act, 1881. CASE STUDY : 16
2. 18.[LAW CASE STUDIES] November 10, 2013 Abhishekh holds the promissory note as a holder in due course. He gives it to Aishwarya. Is Aishwarya holder in due course why? Ans : The given case is under the chapter of negotiable instrument which means promissory notes, bills of exchange or cheque payable either to order or to bearer. In this set case Abhishekh holds the promissory note as a holder in due course. He gives it to Aishwarya. Here abhishek is a holder in due course. Holder of due course refers to an individual who takes a commercial paper for value, in good faith, with the belief that it is valid, with no knowledge of any defects. He must have taken the instrument for value before maturity. Here Aishwarya becomes holder in due course because as per the section 9 of holder in due case says that the person can be call it as holder in due case in the title of the person whom he derived his title. Under section 42 of privilege of a holder in due course says that, the acceptor of a bill of exchange or promissory note will be liable to the holder in due course. He cannot say that the other parties to the bill were fictitious. Aishwarya accepted the same promissory note with a good faith with the belief that it is valid. Therefore here Aishwarya is Holder in due course CASE STUDY : 17
3. 19.[LAW CASE STUDIES] November 10, 2013 State with the reason whether the following payment amount to payment in due course :- 1. A bill exchange is payable at a future date is paid before maturity. 2. An instrument is paid before maturity and is successfully endorse to another person 3. Any instrument is payable to A or his order and it is not endorsed by him it is paid to B who is in actual possession of the instrument. 4. An instrument payable to bearer, all endorsed in blank, payment to a person in position of the instrument. Ans : The given case is under the chapter of negotiable instrument which means promissory notes, bills of exchange or cheque payable either to order or to bearer 1. The payment is done in due course when payment is made at or after maturity of bills of exchange to its holder in good faith and without notice that his or her title to the bill is defective therefore here payment before maturity period does not comes under payment in due course. 2. As per the Question 9.

1. The poverty line can be known through __________

2. which one of the subsequent tax systems will move in the course of the lessening of monetary discrepancies____________

3. In the Keynesian concept fairness between_______ savings and _______can be brought based on the alliteration in the

4.In the perspective of the production function of cobb- Douglas __________

5. The expectations which makes the insignificance curve rounded to the derivation can be known as the _________

6. personal income in one of the following can be encompasses but it can not be included in from national income can be __________

7. it is known to be convex as isoquant due to the origin due to the fact that___________

8. the contact which exist among______- and quantity which can be purchasedat the given price is named as__________

9. A balanced conclusion producer ______-does which of the subsequent____________

10. Economists commonly be certain_________ of that production expectations is_____________