wiz-icon
MyQuestionIcon
MyQuestionIcon
5
You visited us 5 times! Enjoying our articles? Unlock Full Access!
Question


When a person who has been a party to the negotiable instrument takes it again, then an instrument is said to have been a/an -.

A
Assigned back
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Negotiated back
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
Sale back
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Transfer back
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is D Negotiated back
Where an instrument is negotiated back to a prior party, the holder can enforce payment against all intermediate parties to whom the holder was not liable as prior party as, for example, where the prior endorsement was without recourse.

flag
Suggest Corrections
thumbs-up
0
similar_icon
Similar questions
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Commercial Bills and Commercial Paper
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon