3
Question
Negotiation & Assignment
In case of assignment, there is a transfer of ownership by means of a ______ document.
Negotiation & Assignment
In case of assignment, there is a transfer of ownership by means of a ______ document.
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Solution
The correct option is C Written and registered
Assignment means transfer of ownership by a written registered 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 registered 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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