Maker And Drawer - Law Dictionary Search Results
Home Dictionary Name: maker and drawer Page 1 of about 4 results ( seconds)Maker and drawer
Maker and drawer, a clear distinction appears to have been made between 'maker' and 'drawer', the former word being used in a more general sense as applying to promissory notes, negotiable instru-ments and cheques, while the word 'drawer' is restricted to bills of exchange or cheques only, and is nowhere used in connection with promissory notes, Firm Sheikh Mohammad Ismail Maula Bakhsh v. Mian Abdul Majid Khan, AIR 1937 Lah 259....
Drawer, Drawee
Drawer, Drawee, the maker of a bill of exchange or cheque is called the 'drawer'; the person thereby directed to pay is called the 'drawee'. [Negotiable Instruments Act, 1881 (26 of 1881), s. 7]...
Indorsement
Indorsement [fr. in, Lat., upon, and dorsum, a back], anything written or printed upon the back of a deed or writing. The requisites of a valid indorsement of a bill of exchange, promissory note, or cheque, are laid down by the (English) Bills of Exchange Act, 1882 (45 & 46 Vict. c. 61), s. 32, the principal requisites being that the indorsement must be written on the bill itself (except in the case of an 'allonge' or 'copy' in a country where 'copies' are recognized) and signed by the indorser, his simple signature, without additional words, being sufficient; that it be an indorsement of the entire bill [though indorsement of a blank form may be valid, Glenie v. Tucker, (1908) 1 KB 263]; and that where there are two or more indorsements, each is deemed to have been made in the order in which it appears on the bill, cheque, or note, until the contrary is proved. As to the recovery of the amount of the cheque by the drawer, after payment obtained by a forged indorsement, see North and S...
Presetment of Bill of Exchange, Cheque, or Pro-missory Note
Presetment of Bill of Exchange, Cheque, or Pro-missory Note, the presenting of a bill by the holder to the drawee for acceptance, or to the acceptor or an indorser for payment of, a cheque to the banker for payment, and of a note to the maker or indorser for payment.The law on this subject is regulated by the (English) Bills of Exchange Act, 1882, as follows:-Presentment of Bill for Acceptance.--Presentment is necessary if the bill be payable after sight or if it be expressly stipulated for by the bill, or if it be drawn payable elsewhere than at the residence or place of business of the drawee, but in no other case (s. 39). When a bill payable after sight is negotiated, the holder must either present or negotiate it within a reasonable time (s. 40).'The presentment must be made by or on behalf of the holder to the drawee or to some person authorized to accept or refuse acceptance on his behalf at a reasonable hour on a business day and before the bill is overdue.' Presentment must be ...
- << Prev.
- Next >>