Abstract
This chapter focuses on the use of bills of exchange as a mode of payment in commercial transactions, especially in the area of international trade. It first provides an overview of how bills of exchange are used as method of payment before discussing the relevant provisions of the Bills of Exchange Act 1882. It then considers the definition of a bill of exchange, how a bill of exchange is transferred, and persons entitled to the benefit of the obligation on the bill. It also examines the general principles governing liability on the bill of exchange as well as the enforcement and discharge of the bill. Finally, it looks at mistaken payment, focusing on cases where the payment was received in good faith and in ignorance of the mistake.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.