- 28 Marks
PBL – APR 2014 – L1 – Q1 – Promissory Notes, Bills of Exchange, and Endorsements
Definition of promissory note, differences from bill of exchange, requirements for valid endorsement, and promises/admissions of endorser.
Question
A) Define a promissory note.
B) Indicate the differences between a promissory note and a bill of exchange 12 marks
C) Outline any four requirements of a valid endorsement.
D) The endorser of a bill of exchange makes certain promises and admissions to the holder of a bill. Describe briefly these promises and admissions.
Find Related Questions by Tags, levels, etc.
- Tags: Bill of Exchange, Endorsement, Holders Rights, Negotiable Instruments, Promissory Note
- Level: Level 1
- Topic: Cheques and other Means of Payment
- Series: APRIL 2014
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