A warehouse receipt is not a negotiable instrument because the receipt states that the goods received will be delivered to the depositor or to a specified person.
Such a receipt does not state that the goods will be delivered to the bearer or to the order of any person named in the receipt.
A negotiable warehouse receipt is one that can be given, for value, to another. You have ordered product from a manufacturer to be delivered to a warehouse destination. You receive a warehouse receipt saying the items are in the warehouse and you now own them. If you owe someone else money, you can give them the warehouse receipt and they will now own the goods, in payment, or partial payment, for what you owed them (the value).
There are certain documents of title with limited negotiability which are also widely used in commercial transactions but have been held to be non-negotiable because they do not have the requisites that are essential under the Negotiable Instruments Law. They are beyond the scope of the Negotiable Instruments Law and are, therefore, governed by other laws. Among such documents are the following: Letter of credit, Treasury warrant, Postal money order, Bill of Lading, Certificate of Stock, and Warehouse receipt.
yes, its a non negotiable instrument
yes, its a non negotiable instrument
No You are asking if the medium of transfer is a negotiable instrument It is not. A wire transfer represents the medium (or method) of transfer. It is like asking if the stage coach transporting the money is a negotiable instrument, it is not. Money itself is a negotiable instrument, the medium itself is not.
no it does not complt with the definition of a cheque and its not a valid negotiable instrument
No, a mortgage is a contract.
yes
essential of negotiable instrument say's that a negotiable instrument must be unconditional so when we will alter any condition in it then it will be discharged.
No. A cheque is a non-negotiable monetary instrument. The value of the cheque cannot be modified or negotiated and hence the term non-negotiable. The amount filled up by the cheque issuer is the value of the cheque and it would not change.
No, an instrument is something like a bond or cd.
A credit card is not a negotiable instrument because it does not meet the legal requirements to be classified as one. Negotiable instruments must be unconditional promises to pay a fixed amount of money, which credit cards do not fulfill. Additionally, credit cards involve the extension of credit rather than a direct payment.