a) As a rule under the Negotiable Instruments Law, a subsequent party may hold a prior party liable but not vice versa. Give two (2) instances where a prior party may hold a subsequent party liable. (2%)
b) How does the “shelter principle” embodied in the Negotiable Instruments Law operate to give the rights of a holder-in-due course to a holder who does not have the status of a holder-in-due course? Briefly explain. (2%)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment