Search results
Results from the WOW.Com Content Network
Although possibly non-negotiable, a promissory note may be a negotiable instrument if it is an unconditional promise in writing made by one person to another, signed by the maker, engaging to pay on demand to the payee, or at fixed or determinable future time, a sum certain in money, to order or to bearer.
It is a legal term of art, having specialized meaning in the law. Some kinds of legal claims can not be brought at all unless the sum certain can be pleaded. A document claimed to be a negotiable instrument can not be negotiated unless it is for a sum certain. [1] [2]
A nondelegable obligation (also known as a non-delegable duty) is a legal obligation or duty which cannot legally be delegated or, if delegated, the principal is still liable for said obligation. [1] They are also known as non-assignable duties or obligations. [ 2 ]
Nemo dat quod non habet, literally meaning "no one can give what they do not have", is a legal rule, sometimes called the nemo dat rule, that states that the purchase of a possession from someone who has no ownership right to it also denies the purchaser any ownership title.
Warehouse receipts may be negotiable or non-negotiable. Negotiable warehouse receipts allow transfer of ownership of that commodity without having to deliver the physical commodity. See Delivery order. Most warehouse receipts are issued in negotiable form, making them eligible as collateral for loans.
In commercial law, a holder in due course (HDC) is someone who takes a negotiable instrument in a value-for-value exchange without reason to doubt that the instrument will be paid. If the instrument is later found not to be payable as written, a holder in due course can enforce payment by the person who originated it and all previous holders ...
The UNCITRAL Model Law on Electronic Transferable Records enables the issuance of bills of lading in electronic form that are functionally equivalent to paper-based ones. As a result, electronic bills of lading may be issued in the jurisdictions that have enacted that Model Law. These are Singapore and Bahrain. [citation needed]
The Four Corners Rule is a legal doctrine that courts use to determine the meaning of a written instrument such as a contract, will, or deed as represented solely by its textual content. The doctrine states that where there is an ambiguity of terms, the Court must rely on the written instrument solely and cannot consider extraneous evidence.