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Question
An instrument is transferred from Gita to Rita and then further to Meena so as to make the last named person the holder for value. Such a process is called ________.
An instrument is transferred from Gita to Rita and then further to Meena so as to make the last named person the holder for value. Such a process is called ________.
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Solution
The correct option is B endorsing
Endorsement is the signing of a document which allows for the legal transfer of a negotiable instrument from one party to another.Signing of an instrument on back, face or slip annexed to it for the purpose of negotiation. It can be endorsed by Drawer/ Maker, Holder or Payee is called endorsement under Negotiable Instruments Act, 1881. Person making endorsement is called 'Endorser' and to whom endorsement is made is called 'Endorsee'.
Endorsement is the signing of a document which allows for the legal transfer of a negotiable instrument from one party to another.Signing of an instrument on back, face or slip annexed to it for the purpose of negotiation. It can be endorsed by Drawer/ Maker, Holder or Payee is called endorsement under Negotiable Instruments Act, 1881. Person making endorsement is called 'Endorser' and to whom endorsement is made is called 'Endorsee'.
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