Negotiable Instruments in Banking

0 Assignment On transport open-bodied creatures in confideing rowing Title admittance to Banking Course Code FIN-305 Assigned To Mr. S. M. Athiqur Rahman Lecturer Dept. of communication channel Administration Leading University, Sylhet, Bangladesh. Prep ard By Md. Inzamam-Ul Haq Talukder ID. 1101010342 slit E s level(p)th Semester (27th Batch) Leading University, Sylhet, Bangladesh D ATE OF SUBMISSION APRIL 21, 2013 i Declaration This engagement piece has been prep bed by myself which is the appellation conveyable promoters in Banking on a lower floor the supervision of Mr. S. M. Athiqur Rahman, Lecturer in Dept. f strain organization Administration, Leading University, Sylhet, Bangladesh. The extra of this authorship is prohibited without the permission of Author. Author Md. Inzamam-Ul Haq Talukder ID. 1101010342 7th Semester (27th Batch) Leading University, Sylhet, Bangladesh ii Acknowledgement I would like to acknowledge the contri al unitaryions of the indivi duals to the development of this assignment paper Our class peer research group for the cooperation and camaraderie. I am besides heartily thankful to my rush teacher, Mr. S. M. Athiqur Rahman, Lecturer in Dept. f Business Administration, whose encouragement, guidance and support from the initial to the final level enabled me to develop an spirit of the subject. To my truly great friend Tanvir who has do available his support in a number of ways. Lastly, I offer my regards and blessings to all of those who supported us in whatever respect during the completion of the project. Md. Inzamam-Ul Haq Talukder Dept. of Business Administration ID. 1101010342 ternion Contents Sl. i. ii. iii. iv. v. vi. vii. Chapters Contents Name Abstract Page Number 1 2-4 5 16 17 18 19 20 21 22 23First Chapter Second Chapter Third Chapter Fourth Chapter Fifth Chapter Introduction command Context of the Study data Collection and Limitation Result and debateling Conclusion References iv Abstrac t negotiable promoters be main(prenominal)ly governed by state statutory law. Every state has adopted Article 3 of the Uniform Commercial Code (UCC), with some modifications, as the law presidential considerateness on the table peters. The UCC defines a transferrable pawn as an unconditi aned paternity that hollos or targets the remuneration of a fixed measuring stick of bullion. Drafts and nonational systems atomic number 18 the dickens categories of puppets.A draft is an official document that revises a wearment to be operate. An example is a check. A none is an tool that promises that a relentment will be made. Certificates of desexualize (CDs) are nones. Drafts and razes are comm provided(prenominal) employ in business proceeding to finance the movement of rock-steadys and to secure and distri juste loans. To be considered transferable an puppet moldiness meet the aimments stated in Article 3. assignable legal documents do not include menus, liqui eonment orders governed by article 4A (fund transportations) or to securities governed by Article 8 (investment securities).The rule of derivative championship, which is applicable in most areas of the law, does not allow a position owner to wobble even outs in a piece of property greater than his own. If an instrument is passable this rule is suspended. A good faith purchaser, who does not contain all knowledge of a defect in the gloss or claims against it, takes title to the instrument chuck up the sponge of whatsoever defects or claims. In coincidence to the wall hanging of the rule of derivative title, Article 3 provides for warranties to protect the parties in trans exercises involving conveyable instruments.Checks are on the table instruments but are mainly cover by Article 4 of the UCC. Secured transactions whitethorn contain movable instruments but are predominantly covered by Article 9 of the UCC. If on that point is a conflict between the A rticles of the UCC both Article 4 and 9 govern over Article 3. 1 First chapter Introduction 2 1. 1. Statement of The Study The word assignable promoter on the table by delivery and the word instruments content a scripted register by which a right is created in favor of a someone. Thus, the frontier on the table instruments literally refer to a text file containing rights that contribute be transferred by elivery. According to Section 13 (a) of the Act, on the table instrument means a promissory promissory business line, batting order of permute or draw account payable any to order or to common carrier, whether the word order or newsboy appear on the instrument or not. The rights that could be bodied in moveable instruments may be rights for take inings of money arising out of divers(a) captures such as the cut of loan, sale, lease, or any some some early(a) accept performed by payment of a original amount of money. Such rights may similarly arise fr om ownership in companies or loan made to the government or to a portion company.The rights that are incorporated in transferable instruments may be rights to receive goods low voyage or deposited in a store. According to this provision, the toter of movable instruments smoke transfer the rights incorporated in the instrument by transferring the instrument. Similarly, a individual who claims the rights incorporated in movable instruments may hold or exercise them only if he has possession of the instrument, i. e. , he should be a carrier to whom the instrument is issued or transferred following the rules governing its transfer.He essential also present the instrument to the someone who is supposed to perform the obligations arising out of the instrument. The circumstance that the rights incorporated in negotiable instruments may be transferred by the transfer of the instrument and the fact that a soul may not exercise or enforce them unless he is in possession of the i nstrument are the two main features which distinguish negotiable instruments from other documents evidencing rights such as a title deeds whose transfer does not transfer the rights they establish.Another point that has to be famous here is that negotiable instruments are issued or pull offd ground on other cut keep goings. For instance, a psyche may issue a efflorescence of supplant to repay the money he has borrowed from the payee, the company issues a share certificate or debenture certificate as evidence of the persons right arising out of boil down of partnership creating the company or a contract of loan respectively. The wareho employment person or the carrier issues the warehouse goods deposit certificate or the bloom of lading / consignment billhook based on contracts of warehousing or carriage respectively.Finally, the definition of negotiable instruments under the Ethiopian law is much wider than the one adopted by most legal systems, particularly those follow ing the Common Law tradition. This is translucent from the Uniform Commercial Code of the United States and the Bill of Exchanges Act of 1882, which restricts the fantasy to bills of stand in, respectable outs and promissory notes. 3 1. 2. Objectives of the Study Objective means the main creator or the main goals of the try out. Here after this study we should be able to- ? Understand meaning, essential characteristics and types of negotiable instruments ?Describe the meaning and marketing of take outs, get across of check overs and potbellycellation of crossing of a cheque ? Explain capacity and liability parties to a negotiable instruments and ? Understand various provisions of negotiable instrument Act, 1881 regarding negotiation, assignment, licencement, acceptance, etc. of negotiable instruments. 4 Second chapter General Context of the Study 5 2. 1. Literature Review The term, negotiable instrument means a written document which creates a right in favor of some per son and which is dischargely transferable.Although the Act mentions only these three instruments (such as a promissory note, a bill of alternate and cheque), it does not take away the possibility of adding any other instrument which satisfies the following two springs of negotiability a) the instrument should be freely transferable (by delivery or by moment. and delivery) by the custom of the care and b) the person who obtains it in good faith and for harbor should get it free from all defects, and be entitled to recover the money of the instrument in his own name.A negotiable instrument is a document which includes a promise to pay a set heart and soul of money to the immune carrier of the document all on demand or on a disposed(p) date. The instrument can be freely transferred without the need to notify the person from whom it originated. Negotiable instruments are used to enable trade, because without them, great deal would be obligate to exchange money in person for all sorts of transactions, and this would quickly give-up the ghost unsafe in addition to unwieldy.One simple example of a negotiable instrument is a check. A check is written out to the attack aircraft carrier for a specific amount. The bearer can take the check to a bank and deposit it, thereby transferring the obligation to the bank. The bearer can also sign the check over to someone else, another example of a transfer. Checks also demonstrate another important property of negotiable instruments, which is that people need to involve them in hand to redeem or bring off them. If the document is lost, it cannot be called upon.As such, documents like share warrants payable to bearer, debentures payable to bearer and dividend warrants are negotiable instruments. But the money orders and postal orders, deposit receipts, share certificates, bill of lading, dock warrant, etc. are not negotiable instruments. Although they are transferable by delivery and puntments, yet they are not able to give better title to the bona fide transferral for value than what the transferor has. 6 2. 2. Characteristics of a Negotiable putz A negotiable instrument has the following characteristics ? situationThe possessor of the negotiable instrument is pre jibeed to be the owner of the property contained therein. A negotiable instrument does not provided give possession of the instrument but right to property also. The property in a negotiable instrument can be transferred without any perfunctoryity. In the oddball of bearer instrument, the property passes by mere delivery to the transportation. In the gaffe of an order instrument, authority and delivery are required for the transfer of property. ? Title The transferee of a negotiable instrument is known as holder in due course. A bona fide transferee for value is not unnatural by any defect of title on the part of the transferor or of any of the previous holders of the instrument. ? Rights The transferee of the negotiab le instrument can sue in his own name, in grammatical trip of dishonor. A negotiable instrument can be transferred any number of times till it is at maturity. The holder of the instrument need not give notice of transfer to the party liable on the instrument to pay. ? Presumptions Certain presumptions apply to all negotiable instruments e. g. , a presumption that consideration has been paid under it.It is not indispensable to write in a promissory note the words for value received or similar exhibitions because the payment of consideration is presumed. The words are usually included to create additional evidence of consideration. ? Prompt pay A negotiable instrument enables the holder to expect prompt payment because a dishonor means the ruin of the credit of all persons who are parties to the instrument. 7 2. 3. The Nature and Purpose of Negotiable Instruments Negotiable instruments represent one form of property rights, i. e. exercised over incorporeal things chose in action . In other words, they are property rights in relation to objects of property which do not have physical or material existence and hence which cannot be perceived by the senses. A right of action under contract is a class of property known as chose in action and can be distinguished from a corporeal movable property/ a chose in possession which represent property rights exercised in relation to objects which have material or physical existence and hence can be perceived by the senses such as a book, a table or a watch.A holder of this type of property right essentialiness have actual possession of the object to exercise rights arising there from. Rights incorporated in negotiable instruments, rights of an inventor arising out of a give of a patent in respect of his invention, rights of a copyrights holder, and rights of a trader in respect of his trademark, trade name and goodwill are instances of chose in action. Negotiable instruments also represent one kind of contract as ev ery instrument embodies a contract or promise to pay a received amount of money or to deliver goods agree to terms agreed up on.As contracts, the general rules of contract shall apply unless they are specifically excluded from application by the special law applicable to negotiable instruments. As a result, the requirements necessary for the formation of a effectual contract must be fulfilled for issuance of a valid and enforceable negotiable instrument. Hence, the parties who sign a negotiable instrument must have capacity under the law to enter into juridical acts, i. e. , minors and judicially interdicted persons may not create a valid contract finished negotiable instruments.Furthermore, as a contract, any declaration or promise made on negotiable instruments must be accompanied by the signature of the person bound by such declaration or promise. Failure to comply with the requirements as to capacity and signature may be embossed as a defense against any person who claims b ased on the instrument even against the holder in due course who, under other cases, is considered to be free from defenses available against the person who transferred the instrument to him. The parties must give their consent, which must be free from defects such as mistake, fraud, duress.The object of the contract must also be legal and possible. Where the contract does not fulfill requirements as to consent and object, a party affected may raise it as a defense to avoid the contract and liability under the instrument. However, because of the special nature of these instruments, such defenses cannot be raised against a person, who acquires the instrument following the rules of transfer applicable to the instrument, and in good faith. 8 The main use of negotiable instruments is facilitation of commercial transactions.Commercial instruments are substitutes for money and are used as means of performance of money obligations. relations with them reduces the risk of loss or theft an d the ease with which they can be transferred creates convenience which will in turn facilitate business. Transferable securities have the purpose of raising capital in the form of contributions made by purchase of shares and bonds, which is used for starting new businesses or expansion of brisk businesses thereby increasing the production of goods and services in the country.A document of title to goods, whose negotiation transfers the goods represented by them, creates convenience and facilitates transactions involving the goods. For instance, a person selling warehoused goods can do so by endorsing and transferring the certificate of deposit and without the need to actually deliver the objects. When we come to the specific purposes of commercial instruments, promissory notes can be used as means of borrowing money, purchase goods and services on credit and as method of evidencing a be debt.Certificates of deposit can be used as a cunning for encouraging individuals to deposit funds in banks in return the holder of the certificate has the right to receive interest. Bills of exchange on the other hand have the purpose of collecting accounts financing, the movement of goods, and transfer funds. Checks run as vehicles for transfer of money and also used to aid in retentiveness records, reduces the risk of loss and destruction and theft of currencies. 9 2. 4.Types of Negotiable Instrument Section 13 of the Negotiable Instruments Act states that a negotiable instrument is a promissory note, bill of exchange or a cheque payable either to order or to bearer. Negotiable instruments recognized by statute are (i) Promissory notes (ii) Bills of exchange (iii) Cheques. Negotiable instruments recognized by usage or custom are (i) Hundis (ii) Share warrants (iii) Dividend warrants (iv) Bankers draft (v) handbill notes (vi) Bearer debentures (vii) Debentures of Bombay Port Trust (viii) Railway receipts (ix) Delivery orders. 2. 4. 1.Promissory Notes Section 4 of the Act defines, A promissory note is an instrument in penning (note being a bank-note or a currency note) containing an arrogant undertaking, signed by the maker, to pay a certain(a)(a) sum of money to or to the order of a certain person, or to the bearer of the instruments. meaty elements 1. It must be in physical composition 2. It must certainly an express promise or clear understanding to pay 3. Promise to pay must be unconditional 4. It should be signed by the maker 5. The maker must be certain 6. The payee must be certain 7. The promise should be to pay money and money only 8.The amount should be certain and 9. Other formalities regarding number, place, date, consideration etc. 10 2. 4. 2. Bill of Exchange Section 5 of the Act defines, A bill of exchange is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the order of a certain person or to the bearer of the instrument . A bill of exchange, therefore, is a written acknowledgement of the debt, written by the creditor and accepted by the debtor. at that place are usually three parties to a bill of exchange draftsperson, acceptor or drawer and payee.draftsman himself may be the payee. Essential conditions of a bill of exchange 1. It must be in writing. 2. It must be signed by the drawer. 3. The drawer, drawee and payee must be certain. 4. The sum payable must also be certain. 5. It should be properly stamped. 6. It must contain an express order to pay money and money alone. 7. The order must be unconditional. Bills can be classified as ? Inland and foreign bills. ? Time and demand bills. ? switch and accommodation bills. 2. 4. 3. Cheques Section 6 of the Act defines A cheque is a bill of exchange drawn on a specified banker, and not expressed to be payable otherwise than on demand.A cheque is bill of exchange with two more qualifications, namely, (i) it is always drawn on a specified banker, and ( ii) it is always payable on demand. Consequently, all cheques are bill of exchange, but all bills are not cheque. A cheque must satisfy all the requirements of a bill of exchange that is, it must be signed by the drawer, and must contain an unconditional order on a specified banker to pay a certain sum of money to or to the order of a certain person or to the bearer of the cheque. It does not require acceptance. 11Specimen of a Cheque ABC Bank Date_____________ Pay Aor the bearer sum of rupeesonly. Rs-/A/c NoLFSd/No Distinction between Bills of Exchange and Cheque 1. A bill of exchange is usually drawn on some person or firm, while a cheque is always drawn on a bank. 2. It is essential that a bill of exchange must be accepted before its payment can be claimed a cheque does not require any such acceptance. . A cheque can only be drawn payable on demand, a bill may be also drawn payable on demand, or on the expiry of a certain period after date or sight. 4. A grace of three days is al lowed in the case of time bills while no grace is given in the case of a cheque. 5. The drawer of the bill is discharged from his liability, if it is not presented for payment, but the drawer of a cheque is discharged only if he suffers any upon by delay in presenting the cheque for payment. 6. Notice of dishonor of a bill is necessary, but no such notice is necessary in the case of cheque. . A cheque may be crossed, but not needed in the case of bill. 8. A bill of exchange must be properly stamped, while a cheque does not require any stamp. 9. A cheque drawn to bearer payable on demand shall be valid but a bill payable on demand can never be drawn to bearer. 10. opposed cheques, the payment of a bill cannot be countermanded by the drawer. 12 2. 4. 4. Hundis A Hundi is a negotiable instrument written in an oriental language. The term hundi includes all indigenous negotiable instruments whether they be in the form of notes or bills.The word hundi is said to be derived from the Sans krit word hundi, which means to collect. They are quite popular among the Indian merchants from very old days. They are used to finance trade and commerce and provide a fascicle and sound medium of currency and credit. Hundis are governed by the custom and usage of the locality in which they are intended to be used and not by the provision of the Negotiable Instruments Act. In case there is no accustomed rule known as to a certain point, the court may apply the provisions of the Negotiable Instruments Act.It is also open to the parties to expressly exclude the applicability of any custom relating to hundis by agreement (lndur Chandra vs. Lachhmi Bibi, 7 B. I. R. 682). 2. 5. Parties to Negotiable Instruments 2. 5. 1. a) b) c) d) 2. 5. 2. a) b) c) d) e) f) g) h) i) 2. 5. 3. a) b) c) d) Parties to a Promissory Note Maker Payee Holder The indorser and indorsee (the corresponding as in the case of a bill) Parties to Bill of Exchange Drawer Drawee Acceptor Payee Indorser Indorsee Holde r Drawee in case of need Acceptor for honor Parties to a Cheque Drawer Drawee Payee The holder, indorser and indorsee (the same as in the case of a bill or note). 3 2. 6. Functions of Negotiable Instruments Negotiable instruments serve the following functions ? Substitute for money ? Credit device ? Record-keeping device intimately purchases by businesses and many individuals are made by negotiable instruments sort of of cash. 2. 7. Endorsement The word endorsement in its literal sense means, writing on the back of an instrument. But under the Negotiable Instruments Act it means, the writing of ones name on the back of the instrument or any paper attached to it with the intention of transferring the rights therein.Thus, endorsement is signing a negotiable instrument for the purpose of negotiation. The person who effects an endorsement is called an reader, and the person to whom negotiable instrument is transferred by endorsement is called the endorsee. Essentials of a valid endor sement The following are the essentials of a valid endorsement 1. It must be on the instrument. The endorsement may be on the back or face of the instrument and if no space is left on the instrument, it may be made on a separate paper attached to it called allonage. It should usually be in ink. 2.It must be made by the maker or holder of the instrument. A stranger cannot endorse it. 3. It must be signed by the endorser. Full name is not essential. 4. It may be made either by the endorser merely signing his name on the instrument (it is a blank endorsement) or by any words showing an intention to endorse or transfer the instrument to a specified person (it is an endorsement in full). 5. It must be completed by delivery of the instrument. The delivery must be made by the endorser himself or by mortal on his behalf with the intention of passing property therein. 6.It must be an endorsement of the entire bill. A partial endorsement i. e. which purports to transfer to the endorse a part only of the amount payable does not operate as a valid endorsement. If delivery is conditional, endorsement is not complete until the condition is fulfilled. 14 The payee of an instrument is the rightful person to make the first endorsement. thenceforth the instrument may be endorsed by any person who has live on the holder of the instrument. The maker or the drawer cannot endorse the instrument but if any of them has get down the holder thereof he may endorse the instrument (Sec. 51).The maker or drawer cannot endorse or hash out an instrument unless he is in lawful possession of instrument or is the holder there of. A payee or indorsee cannot endorse or negotiate unless he is the holder there of. 2. 8. Dishonor of a Negotiable Instrument When a negotiable instrument is dishonored, the holder must give a notice of dishonor to all the previous parties in order to make them liable. A negotiable instrument can be dishonored either by non-acceptance or by non-payment. A cheque and a promissory note can only be dishonored by non-payment but a bill of exchange can be dishonored either by nonacceptance or by non-payment. . 8. 1. Dishonor by non-acceptance (Section 91) A bill of exchange can be dishonored by non-acceptance in the following ways 1. If a bill is presented to the drawee for acceptance and he does not accept it within 48 hours from the time of presentment for acceptance. When there are several drawees even if one of them makes a default in acceptance, the bill is deemed to be dishonored unless these several drawees are partners. 2. When the drawee is a fictitious person or if he cannot be traced after reasonable search. 3.When the drawee is incompetent to contract, the bill is treated as dishonored. 4. When a bill is accepted with a commensurate acceptance, the holder may treat the bill of exchange having been dishonored. 5. When the drawee has either become insolvent or is dead. 6. When presentment for acceptance is excused and the bill is not acc epted. 15 2. 8. 2. Dishonor by non-payment (Section 92) A bill after being accepted has got to be presented for payment on the date of its maturity. If the acceptor fails to make payment when it is due, the bill is dishonored by nonpayment.In the case of a promissory note if the maker fails to make payment on the due date the note is dishonored by non-payment. A cheque is dishonored by non-payment as soon as a banker refuses to pay. An instrument is also dishonored by non-payment when presentment for payment is excused and the instrument when overdue remains due (Sec 76). 2. 9. Working Definitions ? Negotiable means transferable. The negotiation that goes on refers to the transfer of the instrument between two people, or from one bank to another, or even from one country to another. In the broadest sense, almost any agreed-upon medium of exchange could be considered a negotiable instrument. In day-to-day banking, a negotiable instrument usually refers to checks, drafts, bills of ex change, and some types of promissory notes. ? A Negotiable Instrument is a written order promising to pay a sum of money. ? Banking is the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn a profit. 16 Third chapter Data Collection and Limitation 17 3. 1. Sources of the Data Secondary Sources For devising this study paper, I have self-collected necessary data from various secondary sources, where data already exists. Because it is cheaper to use and easy to find than having to carry out the research again. Secondary teaching such as definitions, instruments insights and functions were collected from books of different authors, internet articles and various researches. 3. 2. Limitations of the Data Collection Every study, no matter how well it is conducted has some limitations. When making this assignment, there were also some unavoidable limitations.First, because of the limited time lim it, this study was conducted only on a small amount of data. Therefore, this study is small-scale less informative. Also lack of required data. Lack of in-depth knowledge of the topic. Finally, the complexity of the study, as well as the scarcity of related information cogency decrease the performance of the research. 18 Fourth chapter Result and Discussion 19 4. 1. Findings In this study I have found a agglomerate of essential knowledge about Negotiable Instruments that are used in banking sectors. Some of them are given below? The instruments should be freely transferable.An instrument cannot be negotiable unless it is such and in such state that the received owner could transfer by simple delivery or endorsement and delivery. ? Negotiability involves two elements namely, transferability free from equities and transferability by delivery or endorsement. ? The holder of the instrument is presumed to be the owner of the property contained in it. ? ? All Negotiable Instruments a re freely transferable. The instrument is transferable till maturity and in case of cheques till it becomes stale (on the expiry of 6 months from the date of issue). Certain make up presumptions are applicable to all negotiable instruments unless the contrary is proved. ? Finally, every negotiable instrument was made or drawn for consideration irrespective of the consideration mentioned in the instrument or not. 20 Fifth chapter Conclusion 21 5. 1. Final decision In this study we have understood the purpose of Negotiable Instruments and how different negotiable instruments are supporting Banking Sectors. A negotiable instrument is a piece of paper which entitles a person to a sum of money and which is transferable from one person to another by mere delivery or by endorsement and delivery.The characteristics of a negotiable instrument are easy negotiability, transferee gets good title, and also transferee gets a right to sue in his own name and certain presumptions which apply to a ll negotiable instruments. There are two types of negotiable instruments (a) Recognized by statue Promissory notes, Bill of exchange and cheques and (b) Recognized by usage Hundis, Bill of lading, Share warrant, Dividend warrant, Railway receipts, Delivery orders etc.The parties to bill of exchange are drawer, drawee, acceptor, payee, indorser, indorsee, holder, drawee in case of need and acceptor for honor. The parties to a promissory note are maker, payee, holder, indorser and indorsee while parties to cheque are drawer, drawee, payee, holder, indorser and indorsee. negotiation of an instrument is a process by which the ownership of the instrument is transferred by one person to another. There are two methods of negotiation by mere delivery and by endorsement.In its literal sense, the term indorsement means writing on an instrument but in its technical sense, under the Negotiable Instrument Act, it means the writing of a persons name on the face or back of a negotiable instrument or on a slip of paper annexed thereto, for the purpose of negotiation. A bill may be dishonored by non-acceptance (since only bills require acceptance) or by non-payment, while a promissory note and cheque may be dishonored by non-payment only. Noting means arranging of the fact of dishonor by a notary public on the bill or paper or both partly.Protest is a formal notarial certificate attesting the dishonor of the bill. The term discharge in relation to negotiable instrument is used in two senses, viz. , (a) discharge of one or more parties from liability thereon, and (b) discharge of the instrument. 22 References Michael D. Floyd. Mastering Negotiable Instruments Ucc Articles 3 and 4 and Other Payment Systems (Mastering Series). Published Jun 30, 2008 Law of Negotiable Instruments, 6th edition 2007 By Tan Peng Chin LLC Chapter 73 Negotiable Instruments http//www. eg. state. or. us/ors/073. html DocsFiles http//docsfiles. com/pdf_ negotiab le_instruments. html Ethiopian Legal Bri ef http//chilot. me/teaching-materials/insurance-banking-and-negotiable-instruments/ FindThatDoc http//www. findthatdoc. com/search-95781382-hPDF/download-documents-bltch19pdf. htm Wikipedia, the free encyclopedia http//en. wikipedia. org/wiki/Negotiable_instrument Wikipedia, the free encyclopedia http//en. wikipedia. org/wiki/Negotiable_Instruments_Act,_1881 23