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An instrument is expressed payable to the order of a specified person, but is not expressed payable to…

Explanation (iii) addresses an instrument expressed payable to the order of a specified person. It is payable to that person or to that person’s order at their option. This…

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An instrument is expressed payable to the order of a specified person, but is not expressed payable to him or his order. Under Explanation (iii) to section 13 of the Negotiable Instruments Act, 1881, how is it payable?

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Explanation (iii) addresses an instrument expressed payable to the order of a specified person. It is payable to that person or to that person’s order at their option. This wording is distinct from an express prohibition on transfer under Explanation (i).

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