Commentary

15 Duration of negotiability

BILLS OF EXCHANGE vol 4(1)
| Commentary

15 Duration of negotiability

| Commentary

15 Duration of negotiability

The general rule is that an instrument that is negotiable continues to be so until it has been discharged by payment or otherwise, or restrictively indorsed1. Where an instrument is overdue it can only be negotiated subject to any defect of title affecting it at its maturity and thenceforward no person who takes it can acquire or give a better title than that which the person from whom he took it had2. A bill payable on demand is deemed to be overdue when it appears to have been in circulation for an

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