A negotiable instrument is transferable with a simple procedure requiring just a signature and delivery. This module begins with a short introduction of negotiable instruments and its kinds. We then walk you through what are promissory notes, bills of exchange and cheques. The subsequent chapters of this module will give you an in-depth understanding of the difference between negotiation and assignment, endorsement, ambiguous and inchoate instruments, holder and holder-in-due-course and the consequences of a negotiable instrument being dishonoured. The two important terms—'noting' and 'protest' are discussed in detail in the last part of this module.
This module includes 42 videos and all relevant sections. It also includes practice exercises, examination pointers, mind maps and flashcards along with the full text of cases.
Table Of Contents:
1. Introduction
I. Relevant sections
1.1 Introduction
2. What is a negotiable instrument?
I. Relevant sections
2.1 What is a negotiable instrument?
2.2 Characteristics of a negotiable instrument
2.3 Presumptions as to negotiable instrument
2.4 Kinds of negotiable instruments
II. Exercises
III. Examination pointers
3. Promissory note
I. Relevant sections
3.1 Promissory note
3.2 Characteristics of promissory note
II. Exercises
III. Examination pointers
IV. Full text of leading cases
4. Bill of exchange
I. Relevant sections
4.1 Bill of exchange
4.2 Characteristics of bill of exchange
4.3 Classification of bills
4.4 Bills in sets
4.5 Difference between bill of exchange and promissory note
II. Exercises
III. Examination pointers
IV. Full text of leading cases
5. Cheque
I. Relevant sections
5.1 What is a cheque?
5.2 Essentials of cheque
5.3 Types of cheques
5.4 Crossing of cheque—Reasons
5.5 Types of crossings
5.6 Truncated cheque
5.7 Difference between cheque and bill of exchange
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