单词 | Transferor by delivery |
释义 | 以交付方式轉讓匯票的移轉人 A holder who negotiates a bearer bill of exchange by delivery without indorsing it. Though not liable on the instrument, a transferor by delivery has duties to his immediate transferee, if a holder for value, similar to those of any seller to a buyer: Bills of Exchanges Ordinance (Cap 19) s 58(2), (3). A transferor by delivery who negotiates a bill 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: s 58. The transferee can recover from the transferor money paid on the bill if any of the warranties implied are broken, but he must act with reasonable diligence: Pooley v Brown (1862) 11 CBNS 566, 142 ER 917. The transferor is not liable if, after the transfer, the bill or note loses its value. On the other hand, an instrument may be transferred, not by way of sale but in payment of a debt, in which case the transferor is liable on the consideration unless the instrument was taken in absolute satisfaction of the debt: Lichfield Union Guardians v Greene (1857) 1 H & N 884. Whether the transfer discharges the debt for which it was given in payment depends on the intention of the parties. If it is intended to do so, the transferor should ensure that the transferee signs a receipt accepting the instrument in full satisfaction of the debt: Halsbury's Laws of Hong Kong, Vol 3, Bills of Exchange [55.178]. See also Bearer bill; Bill of Exchange; Delivery; Indorsement in blank. |
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