Negotiation By Delivery - Law Dictionary Search Results
Home Dictionary Name: negotiation by delivery Page 1 of about 9 results ( seconds)Negotiation by delivery
Negotiation by delivery, [See Negotiable Instru-ments Act, 1881 (26 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 condition that it is not to take effect except in a certain event is not negotiable (except in the hands of a holder for value without notice of the condition) unless such event happens.Illustrations(a) A, the holder of a negotiable instrument payable to bearer, delivers it to B's agent to keep for B. The instrument has been negotiated.(b) A, the holder of a negotiable instrument payable to bearer, which is in the hands of A's banker, who is at the time the banker of B, directs the banker to transfer the instrument to B's credit in the banker's account with B. The banker does so, and accordingly now possesses the instrument as B's agent. The instrument has been negotiated, and B has become the holder of...
negotiable
negotiable : capable of being negotiated ;esp : transferable from one party to another by delivery with or without endorsement so that title passes to the transferee [ securities] [a certificate of deposit] see also negotiable instrument ne·go·tia·bil·i·ty [ni-gō-shə-bi-lə-tē] n ...
Delivery
Delivery, in relation to a lecture, includes delivery by means of any mechanical instrument or by broadcast. [Copyright Act, 1957 (14 of 1957), s. 2 (g)]It means the birth of a child. [Maternity Benefit Act, 1961 (53 of 1961), s. 3 (c)]It means--(i) in the case of a negotiable multimodal transport document, delivering of the consignment to, or placing the consignment at the disposal of, the consignee or any other person entitled to receive it;(ii) in the case of a non-negotiable multimodal trans-port document, delivering of the consignment to, or placing the consignment at the disposal of, the consignee or any person authorised by the consignee to accept delivery of the consignment on his behalf. [Multimodal Transportation of Goods Act, 1993 (28 of 1993), s. 2 (f)]It means voluntary transfer of possession from one person to another. [Sale of Goods Act, 1930 (3 of 1930), s. 2 (2)]Must necessarily mean the point of time when the goods can be physically to the importer, Garden Silk Mills ...
Giving notice in writing
Giving notice in writing, Chapter XVII of the Act, containing ss. 138 to 142, was inserted in the Act as per Banking Public Financial Institution and Negotiable Instruments Laws (Amendment) Act, 1968. When the legislature contemplated that notice in writing should be given to the drawer of the cheque, the legislature must be presumed to have been aware of the modern devices and equipment already in vogue and also in store for future. If the Court were to interpret the words 'giving notice in writing' in the s. as restricted to the customary mode of sending notice through postal service or even by personal delivery, the interpretative process would fail to cope up with the change of time. If the notice envisaged in clause (b) of the proviso to s. 138 was transmitted by Fax it would be compliance with the legal requirement, SIL Import v. Exim Aides Silk Exporters, (1991) 4 SCC 567: AIR 1999 SC 1609 (1612, 1613). [Negotiable Instrument Act, 1881, s. 138, proviso (b)]Giving Notice in writi...
Scrip
Scrip, a certificate or schedule; also evidence of the right to obtain shares or debentures in a limited company, sometimes called 'scrip-certificate,' generally part paid and exchangeable for the certificate of share or the debenture upon payment in full. Scrip to bearer appears to be negotiable and to pass by delivery, see Goodwin v. Robarts, (1875) LR 10 Ex 337; 1 App Cas 476; Rumball v. Metropolitan Bank, (1877) 2 QBD 194.1. A document that entitles the holder to receive something of value 2. Paper money issued for temporary use, Black's Law dictionary, 7th Edn., p. 1349....
bearer
bearer : a person holding a check, draft, or other negotiable instrument for payment esp. marked payable to bearer or having a blank endorsement adj : freely transferable by the holder with or without endorsement and with full title passing by delivery to the transferee: as a : not having a registered owner b : not designating a specific payee [a instrument] [ checks] compare order ...
negotiate
negotiate -at·ed -at·ing vi : to confer with another so as to settle some matter vt 1 : to bring about through conference, discussion, and agreement or compromise [ a contract] 2 a : to transfer (as an instrument) to another by delivery or endorsement b : to convert into cash or the equivalent value [ a check] ne·go·ti·a·tion [ni-gō-shē-ā-shən] n ne·go·ti·a·tor [ni-gō-shē-ā-tər] n ...
contract
contract [Latin contractus from contrahere to draw together, enter into (a relationship or agreement), from com- with, together + trahere to draw] 1 : an agreement between two or more parties that creates in each party a duty to do or not do something and a right to performance of the other's duty or a remedy for the breach of the other's duty ;also : a document embodying such an agreement see also accept, bargain, breach, cause, consent, consideration, duty, meeting of the minds, obligation, offer, performance, promise, rescind, social contract, subcontract Uniform Commercial Code in the Important Laws section NOTE: Contracts must be made by parties with the necessary capacity (as age or mental soundness) and must have a lawful, not criminal, object. Except in Louisiana, a valid contract also requires consideration, mutuality of obligations, and a meeting of the minds. In Louisiana, a valid contract requires the consent of the parties and a cause for the contract in addition to c...
Pawn or Pledge
Pawn or Pledge [fr. pignus, Lat.], a bailment of goods by a debtor to his creditor, to be kept till the debt is discharged.A mortgage of goods is in the Common Law distinguishable from a mere pledge or pawn. By a mortgage the whole legal title passes conditionally to the mortgagee; and if the goods be not redeemed at the stipulated time, the title becomes absolute at law although equity allows a redemption. But in a pledge, a special property only passes to the pledgee, the general property remaining in the pledgor. Also, in the case of a pledge, the right of a pledgee is not consummated, except by possession; and, ordinarily, when that possession is relinquished, the right of the pledgee is extinguished or waived. But, in the case of a mortgage of personal property the right of property passes by the conveyance to the mortgagee, and the possession is not or may not be essential to create or support the title.As to things which may be the subject of pawn: These are, ordinarily, goods a...
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