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Question
Kinds of Negotiable Instruments
It is only the _____ who can ask for a duplicate bill, promissory note or cheque.
Kinds of Negotiable Instruments
It is only the _____ who can ask for a duplicate bill, promissory note or cheque.
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Solution
The correct option is D Holder
Where the bill is not overdue but has been lost, the person who was holder of it may apply to the drawer, to give him another bill of the same tenor, giving security to the drawer if required, to indemnify him against all persons whatever in case the bill alleged to have been lost shall be found again. If the drawer refuses to give such duplicate bill may be compelled to do so by means of a suit. Holder is the person who can ask for a duplicate.
Where the bill is not overdue but has been lost, the person who was holder of it may apply to the drawer, to give him another bill of the same tenor, giving security to the drawer if required, to indemnify him against all persons whatever in case the bill alleged to have been lost shall be found again. If the drawer refuses to give such duplicate bill may be compelled to do so by means of a suit. Holder is the person who can ask for a duplicate.
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