https://www.taxtmi.com/caselaws?id=458049 A promissory note payable to order could not be transferred by mere delivery without endorsement. The court held that the special statutory scheme governing negotiable instruments requires endorsement and delivery for valid negotiation, and that a volunteer could not rely on equitable assignment because such assignment needs valuable consideration and cannot override the Negotiable Instruments Act. The attempted gift also failed because handing over the unendorsed note did not transfer the debt itself. The transferee therefore acquired no enforceable right to sue or give a discharge, and the petitioner succeeded. en-us Mon, 22 Dec 1913 00:00:00 +0530 Sat, 05 Oct 2024 12:57:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458049 A promissory note payable to order could not be transferred by mere delivery without endorsement. The court held that the special statutory scheme governing negotiable instruments requires endorsement and delivery for valid negotiation, and that a volunteer could not rely on equitable assignment because such assignment needs valuable consideration and cannot override the Negotiable Instruments Act. The attempted gift also failed because handing over the unendorsed note did not transfer the debt itself. The transferee therefore acquired no enforceable right to sue or give a discharge, and the petitioner succeeded. Case-Laws Indian Laws Mon, 22 Dec 1913 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458049