What does "Indorsement without recourse" mean?
Negotiable Instrument Act Section 52. Indorser who excludes his own liability or makes it conditional: The indorser of a negotiable instrument may, by express words in the indorsement, exclude his own liability thereon, or make such liability or the right of the indorsee to receive the amount due thereon depend upon the happening of a specified event, although such event may never happen. Where an indorser so excludes his liability and afterwards becomes the holder of the instrument, all intermediate indorsers are liable to him. Illustrations (a) The indorser of a negotiable instrument sign; his name adding the words-- "Without recourse". Upon this indorsement he incurs no liability.
The stand-by Letter of Credit (LC) or Bank Guarantee (BG) issued by scheduled commercial banks for Gold (Metal) Loans should be denominated in:
Identify the HRD Sub-System where in employee performance is increased with increase in knowledge and ability?
The new monetary Policy tool introduced by RBI this year in place of Reverse Repo was recommended earlier by which committee?
Which of the following financial activity can be outsourced by an NBFC?
Which of the following statement(s) is correct about cost of equity?
A. Where earnings, dividends, and equity share price all grow a...
Calculate the Return on Capital employed of JKL Ltd based on given information?
What will be the amount after 2 years on a Principal “P” if compounding is done on a quarterly basis?
Which among the following can be utilized for Buy Back of shares of an organisation?
The interest yield for a bank is
Warehouse expense is an example of: