X, Y and Z are partners. On 1.1.97, Z applies for insolvency. On 1.2.97 he endorses a Bill of Exchange in favour of W. On 1.3.97 he is declared insolvent. Does W acquire a good title to the Bill?

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Solution

Solution: Section to which the given problem relates: Section 34.
Decision: Yes.
Reason: Z was a.partner when the Bill was endorsed. He ceased to be a partner on the date on which order of adjudication is made, i.e. 1.3.97.

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X, Y and Z are partners. On 1.1.97, Z applies for insolvency. On 1.2.97 he endorses a Bill of Exchange in favour of W. On 1.3.97 he is declared insolvent. Does W acquire a good title to the Bill?

Solution: Section to which the given problem relates: Section 34.Decision: Yes.Reason: Z was a.partner when the Bill was endorsed. He ceased to be a partner on the date on which order of adjudication is made, i.e. 1.3.97.

Solution: Section to which the given problem relates: Section 34.
Decision: Yes.
Reason: Z was a.partner when the Bill was endorsed. He ceased to be a partner on the date on which order of adjudication is made, i.e. 1.3.97.