Business Studies · Negotiable Instruments Act, 1881
Arrange the following logical steps representing the legal sequence under Section 57 (Omission to Endorse) or negotiation of a negotiable instrument involving an agent/infant in correct order: A. Delivery of the promissory note or bill of exchange by the party. B. Omission of a necessary endorsement on the instrument by the party. C. The true owner asserts the right to subsequently obtain a proper endorsement. D. The delivery is legally recognized as valid despite the missing endorsement. Choose the correct answer from the options given below:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1B, A, D, C✓
- 2A, B, C, D
- 3B, D, A, C
- 4A, C, B, D
Correct answer
B, A, D, C
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