Cheque Bearer - Law Dictionary Search Results

Cheque (bearer)

Matched in: Term Cheque (bearer)

A 'negotiable instrument' means a promissory note bill of exchange or cheque payable either to order or to bearer. Explanation (i).--A promissory note, bill of exchange or cheque is payable to the order which is expressed to … Bills of Exchange Act, 1882, contains the law as to negotiation of bills of exchange, promissory notes, and cheques. S. 31 declares that these instruments are negotiated when they are transferred from one person to another in

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Cheque

Matched in: Term Cheque

Negotiation by delivery

of 1881), s. 47] Subject to the provision of s. 58, a promissory note, bill of exchange or cheque payable to bearer is negotiable by delivery thereof. Exception.--A promissory note, bill of exchange or cheque delivered on

Holder in due course

person who for consideration became the possessor of promissory note, bill of exchange or cheque if payable to bearer, or the payee or indorsee thereof, if [payable to order], before the amount mentioned in it became payable … Ltd. v. Warning and Gillow Ltd., 1926 AC 670, it was held that the original payee of a cheque is not a holder in due course within the meaning of the Bill of Exchange Act, 1882. Means

Bearer

Matched in: Term Bearer

Bill of Exchange

1880. See now (English) R. S. C. Ord. III., r. 6, and Ord. XIV. See also BANKER'S DRAFT; CHEQUE; NEGOTIABLE INSTRUMENTS; PROMISSORY NOTES PROTEST; NOTE A BILL, TO; INCHOATE. Includes a hundi and a cheque. [The Limitation … future time a sum certain in money to or to the order of a specified person, or to bearer.' It is a chose in action, but, for the encouragement of commerce, it is assignable, at Common Law,

negotiable instrument

a specified time [was determined to be a holder in due course of a negotiable instrument] see also bearer, holder in due course … negotiable instrument : a transferable instrument (as a note, check, or draft) containing an unconditional promise or order to pay to a holder or to the order of

Payee

paid, Negotiable Instruments Act, 1881, s. 7. One to whom a bill of exchange or promissory note or cheque is made payable; he must be named or otherwise indicated therein, with reasonable certainty. The bill, note, or … being; but where the payee is a fictitious or non-existing person, it may be treated as payable to bearer, Bills of Exchange Act, 1882, s. 7; and see Bank of England v. Vagliano, 1891 AC 107. The

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