Deposit obligations for negotiable instruments require the liquidator to lodge instruments with a bank for collection and credit. All bills, cheques, hundies, notes and other similar securities payable to the LLP or to the Liquidator must be deposited by the Liquidator with a bank ... Summary
Deposit obligations for negotiable instruments require the liquidator to lodge instruments with a bank for collection and credit.
All bills, cheques, hundies, notes and other similar securities payable to the LLP or to the Liquidator must be deposited by the Liquidator with a bank for presentation for acceptance and payment or for payment only, and the realised proceeds are to be credited by the bank to the Liquidator's account.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.