To bypass these challenges, buyers sometimes opt to implement an alternative structure that utilizes negotiable instruments
instead of accounts receivable.
On its face, F.S [section]673.1041(1) defines a negotiable instrument
as an unconditional promise or order to pay "a fixed amount of money, with or without interest or other charges described in the promise or order." (35) A provision in a note calling for the payment of interest, thus, cannot as a matter of law destroy the negotiability of the note.
By enhancing freedom from defenses and freedom from claims, reification increases the liquidity, and hence the value, of negotiable instruments
. The negotiable instrument
is thus "a courier without luggage." (97) Increased liquidity may benefit both creditors and obligors.
They have lawyers who can sort out whether calling air miles a negotiable instrument
When a transfer of a negotiable instrument
is made to someone who qualifies as a holder in due course, all personal defenses against the holder in due course are stopped.
The First Circuit's decision also furthers the statute's purpose by requiring a more specific showing to vitiate a holder in due course defense when a fiduciary transfers a negotiable instrument
to a defendant in violation of a duty owed to its principle.
First, there was a direct physical loss of a check or negotiable instrument
due to theft by deception.
The Negotiable Instruments
Law acknowledges a need to standardize transactions involving negotiable instruments
, as well as the need to protect parties' legal rights and to promote "the development of the socialist market economy."(19) According to the Negotiable Instruments
Law, one does not have either liability or rights under a negotiable instrument
except through the act of signing or affixing a seal to it.(20) Article 4 of the Negotiable Instruments
Law states in part: "Other debtors who have put their signatures or seals on the negotiable instruments
shall be obliged to perform the obligations arising out of the negotiable instruments
.(21) The use of the term "other debtors" or "debtor" in Article 4 is ambiguous.
Finally, GLC argued that Share Certificate #12093 was not a negotiable instrument
. The Ontario Court of Appeal, however, dismisses GLC's appeal.
A certificate of deposit is a note of the bank." UCC Section 9-105(1)(i) defines an instrument as either (a) a negotiable instrument
or a certificated security, or (b) any other writing that evidences a right to the payment of money (other than a security agreement or lease) if that writing "is of a type which is in the ordinary course of business, transferred by delivery with any necessary endorsement or assignment."
Criminal investigators working negotiable instrument
fraud cases, especially involving organized groups, have begun to achieve significant results by using a task-force approach and by promoting effective cooperation with their international law enforcement counterparts.
KPH lawyers have sent legal notice against bouncing of cheques to NVD Solar Limited, Saibal Kumar Hazra and other Directors of NVD Solar Limited U/ S 138 of The Negotiable Instrument
Act, 1881, as amended, by The Banking Public Financial Institutions & Negotiable Instruments
Laws Amendment Act, 1988 for bouncing of four cheques of ` 25 lakh each tendered by NVD India to KPH .