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Bills of Exchange Act · s 58
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Bills of Exchange Act · s 58
Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.
Where the holder of a bill payable to bearer negotiates it by delivery without indorsing it, he is called a “transferor by delivery”.
A transferor by delivery is not liable on the instrument.
A transferor by delivery who negotiates a bill thereby warrants to his immediate transferee being a holder for value that the bill is what it purports to be, that he has a right to transfer it, and that at the time of transfer he is not aware of any fact which renders it valueless.
Discharge of bill