Can the legal representative of a deceased person negotiate a promissory note, bill of exchange or…
The legal representative must indorse and deliver the instrument. Section 57 of the Negotiable Instruments Act, 1881 prohibits negotiation by delivery alone where the…
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Can the legal representative of a deceased person negotiate a promissory note, bill of exchange or cheque payable to order by delivery only which was indorsed by the deceased but not delivered by him ?
Answer and explanation
Correct answer B
The legal representative must indorse and deliver the instrument. Section 57 of the Negotiable Instruments Act, 1881 prohibits negotiation by delivery alone where the deceased indorsed an order instrument but did not deliver it.
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