Task; End of unit 10 assignment

1. There are various types of bill of exchange. Define the following bill of exchange, order bills and bear bills.
2. In relation to negotiable instruments define the term qualified acceptance and highlight forms of qualified acceptance.
3. Define the term promissory note as negotiable instrument and explain the characteristics of negotiable instruments.
4. The appointment of a receiver is made by the mortgagee under an express power provided it is a mortgage the receiver collects rent profit and income relating to the property. Discuss the order in which the collected money by the receiver is applied.
5. In relation to the law of property discuss the appropriate ways in which the coownership of property may be terminated.
6. Vividly explain the meaning of the term mortgage and also outline the remedies of a legal mortgage.
7. A bill of exchange is unconditional writing from one person to another. State five essential elements of a valid bill of exchange.
8. In relation to negotiable instruments highlight various ways in which a bill may be discharged.
9. Presentation of a bill of exchange is governed by various rules. In relation to the above statement discuss the rules that govern the presentation of a bill of exchange.
10. For a person to qualify as a holder in due course he must satisfy various condition. State the four condition that a person must satisfy in order to qualify a holder in due course.