Legal Question in Banking Law in India

Negotiable Instruments

M a minor drew a bill on N after-sight. M endorsed the bill to X who made all reasonable attempt to present the bill to N for acceptance but failing he endorsed it to Y with a remark 'Sans recourse'. Y placed the bill for payment. N refused to pay. Y filed a case for recovering the amount against the drawee, drawer and the endorsee. Decide.


Asked on 1/24/02, 1:24 pm

1 Answer from Attorneys
Umesh Bhagwat Bhagwat&Co.

Re: Negotiable Instruments

Since a minor is not competent to draw a bill, the bill is void abinitio.In my opinion neither of the parties have any legal remedy to recover the amount.

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Answered on 1/24/02, 10:05 pm


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