Explain the following statements in brief on the point of reasoning: (ii) "Not Negotiable" Crossing does not mean "Not Transferable".
CS Professional · Banking - Law & Practice · PYQS · December 2021
Explain the following statements in brief on the point of reasoning: (ii) "Not Negotiable" Crossing does not mean "Not Transferable".
Answer & Explanation:
As per Negotiable Instruments Act, 1881, a 'Not Negotiable' Crossing does not restrict the transferability of any instrument. It means the holder does not get a better title than the transferor.
Topics: Negotiable Instruments
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