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Question
Negotiation & Assignment
_____ is the transfer of an instrument a note, bill or cheque for one person to another in such a manner as to convey title and to constitute the transferee the holder thereof.
Negotiation & Assignment
_____ is the transfer of an instrument a note, bill or cheque for one person to another in such a manner as to convey title and to constitute the transferee the holder thereof.
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Solution
The correct option is B Assignment
Assignment means transfer of ownership by a written document under the provisions of the Transfer of Property Act, 1882. Bills, notes and cheques represent debts and as such have been held to be assignable without endorsement. Transfer by assignment takes place when the holder of a negotiable instrument sells his right to another person without endorsing it. The assignee is entitled to get possession and can recover the amount due on the instrument from the parties thereto.
Assignment means transfer of ownership by a written document under the provisions of the Transfer of Property Act, 1882. Bills, notes and cheques represent debts and as such have been held to be assignable without endorsement. Transfer by assignment takes place when the holder of a negotiable instrument sells his right to another person without endorsing it. The assignee is entitled to get possession and can recover the amount due on the instrument from the parties thereto.
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