Under what circumstances can a negotiable instrument be discharged by cancellation?
Q: Every transaction in business creates a contract (agreement) between the parties. To determine…
A: A contract is an arrangement that establishes a legal obligation or liability between two or more…
Q: Can a negotiable instrument be endorsed in blank? What are the consequences of such an endorsement?
A: "The solution has been provided in a generalized Manner." A negotiable instrument is a written…
Q: What is the difference between a contract of sale and a contract to sell?
A: A contract is a file that legally joins the parties to conformity to perform mutual obligations.
Q: Under what circumstances can the liability of the parties to a negotiable instrument be discharged?
A: The Negotiable Instruments Act aims to create a standardized and reliable system for negotiable…
Q: What are the complications of negotiable interests and when a holder in due course is vulnerable to…
A: Negotiable instruments work as lawful records that describe a right to receive a precise amount of…
Q: P is in dire need of cash. He then approaches M and requests that M issue a negotiable bill of…
A: A bill of exchange (BOE) is a financial instrument that is used in commerce as a means of payment…
Q: What does it mean to have primary liability on a negotiable instrument? -As soon as a party…
A: A negotiable instrument is referred to as a promissory note or a document that guarantees the…
Q: Excel Co, a meat-packing company sold meat products to Silver Enterprises, the buyer. The buyer…
A: The question is asking who has the title to the goods in a situation where the original buyer…
Q: purpose
A: The type of intellectual property document will the brand will sign with the current owners of…
Q: Explain the concept of a void contract in easy terms.
A: An agreement between parties that establishes legally enforceable duties for both parties is called…
Q: e duties discharged by a party under a c
A: Contract: a composed or spoken understanding, particularly one concerning work, deals, or tenure,…
Q: What are the security considerations when deserializing objects from untrusted sources, and how can…
A: Deserializing objects from untrusted sources could be a basic security concern in computer program…
Q: What are the key elements of a valid contract, and what remedies are available for breach of…
A: A valid contract is a legally binding agreement that involves the mutual exchange of promises or…
Q: When would an agent risk breaching a fiduciary duty?
A: A Person who is legally bound to put another's interests ahead of their own is a fiduciary person. A…
Q: (1) In "Promissory note" and a “bill of exchange" how many parties involved? a) Two parties to a…
A: A promissory note is a legal document that outlines a borrower's promise to repay a specific amount…
Q: Making an instrument negotiable requires many step
A: Eight Requirements for Negotiable Instruments The idea of negotiability is one of the most…
Q: Why is it important to have the option of a substitute for cash as payment in a contract? In what…
A: Written contracts that promise to pay a specific quantity of money are known as negotiable…
Q: . Explain when a fiduciary duty comes to an end in light of Blue Line Hockey Acquisition Co.…
A: Within the context of the case known as Blue Line Hockey Acquisition Co. v. Orca Bay Hockey Limited…
Q: True or False If a contract is fully performed by all parties to it, then it is presumed to have…
A: A legally enforceable agreement that specifies the terms and circumstances of a relationship between…
Q: What are the main elements of a valid contract and how do they contribute to the enforceability of a…
A: A legitimate contract under corporate law often involves many fundamental elements. These factors…
Q: What are the key elements of a valid and enforceable contract, and what remedies are available in…
A: A contract is a legally binding agreement between two or more parties that outlines their rights,…
Q: ‘The capacity to incur liability on negotiable instruments is co- extensive with the capacity to…
A: A negotiable instrument is a legally binding agreement that ensures payment to a certain individual…
Q: John goes to a bar. Harry starts to talk to him about a car he has for sale. John tells him he…
A: The scenario you outlined comprises a potential contract for the sale of a car between John and…
Q: Explain Subcontracting?
A: Subcontractor is a person who is being awarded a portion of an existing contract by a principal or…
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- Fiona, Celine and Donna have recently commenced a business together making custard pies using the name 'FCD's Custard Pies' as their trading name. They also sell coffee and soft drinks. Only Donna has put capital into the business, and no formal agreement exists between them. However, on many occasions Fiona has purchased stock for the business from their various suppliers by using her own money, and she has also set up an account with the suppliers in the name of 'FCD's Custard Pies'. Celine also has often placed orders on behalf of the business with their various suppliers for stock. 00:0 At their next meeting Fiona suggests selling alcoholic beverages. Donna likes the idea, but Celine does not. Celine says that such a change would require renovation of the shop, and also obtaining a licence to sell alcohol. This requires an application to the relevant government authority, which may reject the application. After giving it lots of thought, Donna decides to leave the business in two…What is the main difference between contracts discharged due to operation of law and contracts discharged due to acts of the parties? Discharge due to acts of the parties never requires court intervention, whereas discharge due to operation of law always does. Discharge due to operation of law reflects at least one party's intent, whereas discharge due to acts of the parties doesn't necessarily reflect either party's intent. Discharge due to acts of the parties is legally binding, whereas discharge due to operation of law is not. Discharge due to operation of law doesn't necessarily reflect either party's intent, whereas discharge due to acts of the parties reflects at least one party's intent. 11 XIR Submit > 17What is the basis for enforcing a contract under the doctrine of promissory estoppel?
- Granite Insurance Company entered into a treaty reinsurance agreement with Rock Solid Reinsurance (RSR). Granite's retention limit is $400,000 and RSR agreed to provide reinsurance for up to $2.0 million. If Granite writes an $800,000 policy, RSR is responsible for 50 percent of the losses. If Granite insures a $1.6 million risk, RSR is responsible for 75 percent of any losses. What type of reinsurance arrangement did Granite enter into with RSR? ما A) reinsurance pool B) surplus share reinsurance C) facultative reinsurance D) excess of loss reinsurancePick the right option What is the term the Uniform Commercial Code (UCC) gives to a person who seeks to enforce a negotiable instrument that is lost, stolen, or destroyed? -Beneficiary -Non-holderIf a director allows a company to continue to trade indefinitely and the company is placed into liquidation, what are the potential liabilities for a director and how are these determined by the Courts?
- –Said is the owner of a shop. He places a notice on the window advertising the sale of batteries at half price. What kind of notice? You should provide in your answer: 1- What kind of contract 2- Legal or not 3- Express or implied or Quasi 4- Unilateral or Bilateral 5- Your reflection and commentsexplain the following terms in your own words and understanding and give specific examples. - Obligations - Contracts - Law - Quasi-Contracts - Quasi-DelictsOption A is not the answe
- A purchaser enters a contract to purchase land from a seller. The contract provides that the settlement date is 1 March but time is not of the essence. Is the following statement true or false? ‘The purchaser is not legally obligated to settle the transaction on 1 March.’ True or False?M issued a negotiable instrument note to P with a face value of P10,000, which P endorsed to A who is not a holder in due course, then to B, his son, without any payment but only out of love and affection. Can B seek payment from M?Does a post dated check affect negotiability? In other words, does it matter that Niki deposited the check into her account BEFORE the date on the check? Will Niki be entitled to the $50? Explain your answer.