Endorsement of Negotiable instrument followed by delivery (A) Transfers the property in instrument to…
Under s.50 of the Negotiable Instruments Act an endorsement followed by delivery transfers the property in the instrument and the right of further negotiation, and it may…
Choose your answer
Endorsement of Negotiable instrument followed by delivery
(A) Transfers the property in instrument to endorsee
(B) Transfers the right of further negotiation to the endorsee
(C) May exclude or restrict the right of further negotiation by endorsee
(D) May merely constitute the endorsee as an agent
Answer and explanation
Correct answer D
Under s.50 of the Negotiable Instruments Act an endorsement followed by delivery transfers the property in the instrument and the right of further negotiation, and it may also restrict that right or constitute the endorsee a mere agent. Hence all the listed effects can follow: "(A), (B), (C) and (D)".
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