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Faculty of business management PDF

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Added on  2022-01-17

Faculty of business management PDF

   Added on 2022-01-17

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FACULTY OF BUSINESS MANAGEMENT
DIPLOMA OF BANKING STUDIES (BA119)
LEGAL ASPECTS AND ETHICS IN BANKING (FIN360)
THE IMPLICATIONS OF COVID-19 ON BOUNCE CHEQUE
MBA1195H
PREPARED BY:
DANIA SOFEA BINTI MOHD ANUAR
PREPARED FOR:
MISS NUR JIHAN BINTI MD JOHAN
SUBMISSION DATE:
25 NOVEMBER 2021
Faculty of business management PDF_1
ACKNOWLEDMENT
In the name of Allah, the most Gracious, the most Merciful.
Praise be to Allah, Lord of the universe who give us an opportunity to complete
this assignment without any difficult challenge. Peace and prayers be upon His Final
Prophet and messenger Muhammad.
We would like to express a special thanks to our lovely Miss Nur Jihan because
without her, we could not do our assignment. She always guides us and help us for
completing this task. She also checks our assignment and give a comment if we
have made a mistake. Other than that, she will ensure all of her students will
complete all task for this subject without having difficulties. Her contribute and
kindness that she assists have make all of us feel easier and comfortable. We feel
so proud of our great madam.
Plus, we give a big thanks for those helping us either directly or indirectly for
completed this research. We can only pray that your good will be rewarded by Allah.
Finally, to our family, friends, thanks you for the endless help and support that you
have given to us.
Thank you.
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Faculty of business management PDF_2
TABLE OF CONTENT
1.1 Definition...........................................................................................................3
1.2 How does it happen?........................................................................................4
1.3 Characteristic of negotiable instrument............................................................5
2.1 What is Covid-19...............................................................................................6
2.2 Implication of Covid-19 on cheque bounce......................................................7
3.1 Conclusion........................................................................................................9
Reference................................................................................................................10
Appendix.................................................................................................................11
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INTRODUCTION TO NEGOTIABLE INSTRUMENT
1.1 DEFINITION
Signed documents that offer a specified sum of money to a person or organisation
are known as negotiable instruments. It is possible for the holder of a negotiable
instrument to take the funds as cash or to use them in a manner appropriate to the
transaction or to their liking. The person receiving the money, known as the payee,
must be identified in some way on the instrument. There is a lot of relevant
information on the negotiable instrument, such as the amount of the principal and the
interest rate. It's important to note that a precise sum of money has been pledged
and must be paid in full, either on demand or at a predetermined time, on the
document. You can pass along a negotiable instrument from one person to the next.
The bearer of the instrument has full legal ownership of the instrument once the
transfer is completed (Hayes, 2021).
A promissory note, bill of exchange, or a cheque payable either to order or to the
bearer are all negotiable instruments, according to Section 13 of the Negotiable
Instruments Act Promissory notes, bills of exchange, and checks are all recognised
by statute as forms of negotiable documents. These include Hundis, share warrants,
dividend warrants, bankers' draughts and circular notes as well as bearer
denominated debentures, debentures of the Bombay Port Trust, railway receipts,
and delivery orders (Priyanka, 2018).
The entity producing the negotiable instrument makes no other commitments in
these agreements. No additional instructions or requirements can be placed on the
holder of the negotiable instrument in order to obtain the stated monetary amount. In
order for a draught to be negotiable, the maker of the draught must sign it with his or
her mark or signature. The term "drawer of funds" refers to this individual or entity.
Traveller cheques, bank draughts, and promissory notes are all forms of negotiable
documents.
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