Business Studies · Negotiable Instruments Law
Which statement is correct regarding the transfer of international bills of exchange under the UN Convention on International Bills of Exchange and International Promissory Notes?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1International bills of exchange cannot be transferred under any circumstances
- 2The payee may transfer the bill unless the drawer has marked it with a restriction that prevents endorsement✓
- 3The payee needs the permission of the guarantor to transfer the bill
- 4The payee needs the permission of the drawee to transfer the bill
Correct answer
The payee may transfer the bill unless the drawer has marked it with a restriction that prevents endorsement
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