Thursday, December 06, 2007

NI Act_Practicle Problems_44

Can an acceptor of a bill avoid his liability against a person who is a holder in due course or who derives his title from a holder in due course, on the following grounds:

a. That the instrument has not been filled in accordance with the authority given by him.
b. That the other parties to the bill were fictitious.
c. That the instrument was drawn without consideration.
d. That the delivery of the instrument was conditional.
e. That the instrument had been lost.
f. That the instrument was obtained from him by means of fraud.
g. That the instrument was obtained from him for an unlawful consideration.
h. That his signature was forged.That payee had no capacity to endorse.

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