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Holder: Who is the holder of a negotiable instrument?
Section 8 of N.I.Act 1881 defines ‘Holder’ as under. “The holder of a promissory note, bill of exchange or cheque means, any person entitled in his own name to the possession thereof and to receive or recover the amount due thereon from the parties thereto. Where the note, bill or cheque is lost or destroyed…
Allonge: When is an allonge to be used?
Allonge is a French word which means lengthening. When a piece of paper which has been firmly attached to a negotiable instrument for further endorsements, such piece of paper attached thereto is called allonge. However, a blank slip of paper attached to a negotiable instrument cannot be called allonge unless an endorsement is written on…
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