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Please Answer

Nimisha Oberoi (Article Assistiant) (24 Points)

23 January 2010

Hi all,

My attempt is in PCC and i was very much confused in Negotiable Act.

Please please answer my following ques:

(1) What is an Inchoate instrument (dont give book language)

(2) What is Negotiation Back?

(3) Difference between holder and HDC (holder in due course?

IS IT IMPORTANT TO RETAIN THE SECTION NUMBERS OF NEGOTIABLE ACT??

PLEASE ANSWER IN GENERAL TERMS.. I HAVE THE BOOK..BUT I AM NOT ABLE TO SATISFY MYSELF THROUGH BOOKISH LANGUAGE!!

thanks all,

Nimisha

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4 Replies

Naresh Reddy (CA,Final) (123 Points)
Replied 26 January 2010

1).Inchoate instrument means not write full detials properly instrument for exmple name is not wrote but not barer.

2).Negotiation Back means if a persons negotiates ( Given /transfer) a instrument to another that same instrument retuns to him by way of another person given to same person it is call Negotiation Back. Ex:- A given to B , then B given to C then C given to Z and then Z given to A the same instrument is calld Negotiation Back.

3). Holder means the person who holds the instrument at what ever means i.e may be froud or illegally he is calld as holder .But HDC means the person how is holds the instrument my legal means and in matured date.

Kanya Chaturvedi (Audit Assistant) (63 Points)
Replied 02 February 2010

Hey you know L Jayraman's book is totally copied from Munish Bhandari's Book. So its better to refer Munish Bhandari's PCC Book.

Kalpesh Chauhan, (Tax Assistant (Accounting Technician CA FINAL CS PROF. PROG. B.Com)) (8310 Points)
Replied 21 August 2010

Originally posted by : Naresh Reddy
	Hi 1).Inchoate instrument means not write full detials properly instrument for exmple name is not wrote but not barer. 2).Negotiation Back means if a persons negotiates ( Given /transfer) a instrument to another that same instrument retuns to him by way of another person given to same person it is call Negotiation Back. Ex:- A given to B , then B given to C then C given to Z and then Z given to A the same instrument is calld Negotiation Back. 3). Holder means the person who holds the instrument at what ever means i.e may be froud or illegally he is calld as holder .But HDC means the person how is holds the instrument my legal means and in matured date.