Search results
Results From The WOW.Com Content Network
Belgian bill of exchange, 1933. A bill of exchange is essentially an order made by one person to another to pay money to a third person. A bill of exchange requires in its inception three parties—the drawer, the drawee, and the payee. The person who draws the bill is called the drawer. He gives the order to pay money to the third party.
On the recommendation of the new Law Commission, the Bill was re-drafted and again it was sent to a Select Committee which adopted most of the additions recommended by the new Law Commission. The draft thus prepared for the fourth time was introduced in the council and was passed into law in 1881 being the Negotiable Instruments Act, 1881 (Act ...
The Bills of Exchange Act 1882 (45 & 46 Vict. c. 61) is an act of the Parliament of the United Kingdom that codified the law relating to bills of exchange.Bills of exchange are widely used to finance trade and, when discounted with a financial institution, to obtain credit.
Vote trading is the practice of voting in the manner another person wishes on a bill, position on a more general issue, or favored candidate in exchange for the other person's vote in the manner one wishes on another position, proposal, or candidate. Nearly all voting systems do not make vote trading a formal process, so vote trading is very ...
Section 40(2) was substituted by section 4(1) of the Bills of Exchange Amendment Act 1979. Sections 41(1)(da) and (2)(fa) were inserted by section 5 of the Bills of Exchange Amendment Act 1979. Section 75 was substituted by section 2 of the Bills of Exchange Amendment Act 1971. Section 82 was repealed by section 8(1) of the Cheques Act 1960.
Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions. The Reserve Bank of India describes the hundi as "an unconditional order in writing made by a person directing another to pay a certain sum of money to a ...
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
This page was last edited on 16 April 2020, at 00:30 (UTC).; Text is available under the Creative Commons Attribution-ShareAlike 4.0 License; additional terms may ...