Saved Bookmarks
| 1. |
State any three effects of endorsement. |
|
Answer» Effects of endorsement: The legal effect of negotiation by endorsement and delivery is, (i) To transfer property in the instrument from the endorser to the endorsee. (ii) To vest in the latter the right of further negotiation, and (iii) A right to sue on the instrument in his own name against all the other parties (Section 50). |
|