Question
(a) In relation to the law which governs negotiable instruments, list and explain four types of endorsements. (6 marks) (b) Explain the meaning of
(a) In relation to the law which governs negotiable instruments, list and explain four types of endorsements. (6 marks) (b) Explain the meaning of the term "holder" in relation to a bill of exchange and outline the duties of a holder of a bill of exchange. (10 marks) (c) Abel received a bill of exchange for value from Cain who had obtained the instrument fraudulently. Abel fearing that the bill might lapse presented it for payment whereupon it was dishonored. State with reasons whether Abel can claim to be a holder in due course. (4 marks)
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