Negotiation - Law Dictionary Search Results
Home Dictionary Name: negotiation Page: 4Holder
Holder, a payee or indorse in possession of a bill of exchange or a promissory note.The 'holder' of a promissory note, bill of exchange or cheque means any person entitled in his own name to the possession thereof and to receive or recover the amount due thereon from the parties thereto.Where the note, bill or cheque is lost or destroyed, its holder is the person so entitled at the time of such loss or destruction. [Negotiable Instruments Act, 1881 (26 of 1881), s. 8]A person who has legal possession of a negotiable instrument and is entitled to receive payment on it, Black's Law Dictionary, 7th Edn.Holder, in relation to any operating right, means the lessee, licensee or permittee, as the case may be, in respect of such operating right, the Offshore Areas Mineral (Development and Regulation) Act, 2002, s. 4(f)....
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 ...
Crossed cheques
Crossed cheques. It is very usual for the drawer of a cheque to write across it, between two parallel lines, the name of the payee's banker, in which case the banker on whom the cheque is drawn should only pay to that banker; in other cases, as when the drawer is unaware of the payee's banker, it is usual for himto write merelythe words 'and Co.,' leaving it to the payee to add the ename of his banker if the payee so intends, or if the parallel lines are left in blank except of the words 'and Co.' the cheque canonly be paid by the Bank on whom it is drawn to or through a Bank. This serves as some security in case the cheque is lost, since it can only be paid through a banker, and moreover postpones in some measure the payment until the clearing hours in the afternoon. See Bills of Exchange Act, 1882 (45 & 46 Vict. c. 50), ss. 76-80; and (English) Bills of Exchange (Crossed Cheques) Act, 1906 (6 Edw. 7, c. 17) passed in consequence of Capital and Counties Bank v. Gordon, 1903 AC 240), b...
Cheque crossed generally
Cheque crossed generally, where a cheque bears across its face an addition of the words 'and company' or any abbreviation thereof, between two parallel transverse lines, or of two parallel transverse lines simply, either with or without the words 'not negotiable', that addition shall be deemed a crossing and the cheque shall be deemed to be crossed generally Negotiable Instruments Act, 1881 (26 of 1881), s. 123...
Cheque Crossed Specially
Cheque Crossed Specially, where a cheque bears across its face an addition of the name of a banker, either with or without the words 'not negotiable', that addition shall be deemed a crossing, and the cheque shall be deemed to be crossed specially, and to be crossed to that banker. [Negotiable Instruments Act, 1881 (26 of 1881), s. 124]...
Broker
Broker [fr. broceur, Fr., a person who breaks into small pieces], (1) an agent employed to make bargains and contracts between other persons in matters of trade, commerce and navigation, by explaining the intentions of both parties, and negotiating in such a manner as to put those who employ him in a condition to treat together personally; (2) and, more commonly, an agent employed by one party only to make a binding contract with another.There are various sorts of brokers now employed in commercial affairs, whose transactions form, or may form, a distinct and independent business. Thus, for example, there are exchange and money-brokers, stock-brokers, ship-brokers, and insurance-brokers, who are respectively employed in buying and selling bills of exchange, or promissory notes, railway scrip, goods, stocks, ships, or cargoes; or in procuring freights or charter-parties. By custom or usage brokers may become personally liable on contracts made by them on behalf of principals where the p...
renegotiate
renegotiate : to negotiate again (as for more money or to adjust interest rates or repayments) ;specif : to determine under statutory procedure the existence and amount of excess profits on (a government contract) in order to eliminate or obtain a refund of such profits vi : to negotiate again ;specif : to adjust a government project price in order to eliminate or recover excessive profits re·ne·go·ti·a·tion [-ni-gō-shē-ā-shən, -gō-sē-] n ...
recourse
recourse 1 a : the act of turning to someone or something for assistance esp. in obtaining redress b : a means to a desired end esp. in the nature of a remedy or justice ;also : the end itself 2 : the right or ability to demand payment or compensation ;specif : the right to demand payment from the endorser or drawer of a negotiable instrument see also recourse note at note compare non-recourse NOTE: Under Article 3 of the Uniform Commercial Code, the phrase without recourse on a negotiable instrument limits the liability of the endorser or drawer. If an endorsement states that it is made without recourse, the endorser is not liable to pay, subject to various conditions, if the instrument is dishonored. Similarly, if a draft states that it is drawn without recourse, the drawer is not liable to pay, subject to various conditions, if the draft is dishonored, provided that it is not a check. ...
protocol
protocol 1 : an original draft, minute, or record of a document or transaction 2 a : a preliminary memorandum often formulated and signed by diplomatic negotiators as a basis for a final convention or treaty b : the records or minutes of a diplomatic conference or congress that show officially the agreements arrived at by the negotiators ...
paper
paper 1 : a piece of paper containing a written statement: as a : a formal written composition or document often intended for publication [the Federalist s] b : a document containing a statement of legal status, identity, authority, or ownership often used in pl. whether applying to one or more items [naturalization s] [this policy, including the endorsements and the attached s "Mutual of Omaha"] c : a document (as an answer, motion, or brief) prepared in furtherance of a legal action [all s after the complaint required to be served upon a party shall be filed with the court "Federal Rules of Civil Procedure Rule 5(d)"] 2 : a document providing evidence of a financial obligation ;esp : commercial paper in this entry accommodation paper : commercial paper used by one party to accommodate another party bearer paper : commercial paper that is freely negotiable by the holder and is made payable to bearer compare order paper in this entry chattel paper : paper that sets out bot...
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