Thursday, November 01, 2007

NI Act_Practicle Problems_12

Do the following alterations of a negotiable instrument render the instrument void?

(a) The holder of a bill alters the date of the instrument to accelerate or postpone the time of payment.
(b) The drawer of a negotiable instrument draws a bill but forgets to write the words 'or order'. Subsequently, the holder of the instrument inserts these words.
(c) A bill payable three months after date is altered into a bill payable three months after sight.
(d) A bill was dated 1992 instead of 1993 and' subsequently the agent of the drawer corrected the mistake.A bill is accepted payable at the Union Bank, and the holder, without the consent of the acceptor, scores out the name of the Union Bank and inserts that of the Syndicate Bank.

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