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    Negotiable Instruments Act 1881

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    manasdash123
    Bank notes were stolen during a robbery at the Bank of England. The Bank distributed a list of the stolen notes to money changers in Europe. Over a year later, one of the stolen notes was brought to a money changer in Paris, who had received the list but forgotten about it. The money changer exchanged the note without realizing it was stolen. It was held that the money changer was entitled to keep the note since he acted honestly and in good faith, despite being slightly negligent in forgetting about the notice.

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    Negotiable Instruments Act 1881

    Uploaded by

    manasdash123
    11 views1 page
    Bank notes were stolen during a robbery at the Bank of England. The Bank distributed a list of the stolen notes to money changers in Europe. Over a year later, one of the stolen notes was brought to a money changer in Paris, who had received the list but forgotten about it. The money changer exchanged the note without realizing it was stolen. It was held that the money changer was entitled to keep the note since he acted honestly and in good faith, despite being slightly negligent in forgetting about the notice.

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    Caselets NI

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    Bank notes were stolen during a robbery at the Bank of England. The Bank distributed a list of the stolen notes to money changers in Europe. Over a year later, one of the stolen notes was brought to a money changer in Paris, who had received the list but forgotten about it. The money changer exchanged the note without realizing it was stolen. It was held that the money changer was entitled to keep the note since he acted honestly and in good faith, despite being slightly negligent in forgetting about the notice.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    11 views1 page

    Negotiable Instruments Act 1881

    Uploaded by

    manasdash123
    Bank notes were stolen during a robbery at the Bank of England. The Bank distributed a list of the stolen notes to money changers in Europe. Over a year later, one of the stolen notes was brought to a money changer in Paris, who had received the list but forgotten about it. The money changer exchanged the note without realizing it was stolen. It was held that the money changer was entitled to keep the note since he acted honestly and in good faith, despite being slightly negligent in forgetting about the notice.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    NEGOTIABLE INSTRUMENTS ACT 1881

    CASE 1. During a robbery in bank of England some bank notes were stolen. The Bank immediately
    prepared & distributed a list of stolen notes to money changers in Europe. About twelve months after
    the occurrence of robbery one of the stolen notes came to money changer in Paris. He also had received
    the list of stolen notes distributed by the Bank of England. The money changer had no recollection of the
    incident. He had completely forgotten about the notice from the Bank. He exchanged the note, The note
    turned out to be stolen one.
    The question to be determined was who was entitled to the note?
    Solution 1. It was held that the money changer was entitled to the note. Although he was slightly
    negligent but he had acted honestly and in good faith cashed the note.

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