#CASE_STUDY_2

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🔸Case study Series

👉Mr. X used to sell goods on credit to Mr. Y

👉Mr. Y accepted a bill of Rs.100,000 in favour of Mr. X on account of amount due for goods bought

👉Mr. X endorsed the bill to Mr. Z for amount due to him

👉One day the bill gone missing from Mr. Z’s drawer

👉 the bill was stolen by Mr. P, who then forged signatures of Mr. Z and got it transferred to himself

👉Mr. P bought some furniture from Mr. Q and endorsed the bill to Mr. Q (Mr. Q agreed to this in good faith and without knowing the truth behind P’s possession of the bill)

👉Is Mr. Q entitled to the amount of bill when it falls due ?

#CASE_STUDY 2

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🔸Case study Series🔸

👉Mr. X used to sell goods on credit to Mr. Y

👉Mr. Y accepted a bill of Rs.100,000 as security in favour of Mr. X

👉their understanding was that the bill will not be presented for payment unless and until Mr. Y fails to pay outstanding amount for goods bought from time to time

👉Mr. X owed an amount to Mr. Z which remained due for long period of time, Mr. X endorsed Mr. Y’s acceptance in favour of Z to meet his liability in favour of Mr. Z

👉Can Mr. Z demand payment of the bill from Mr. Y (assuming amount outstanding on account of goods bought by Mr. Y from Mr. X, at the time of maturity of the bill is only Rs.20,000)

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