A bill, endorsed or delivered to a person subject to the understanding that it will be paid only if certain conditions are fulfilled, is called an Escrow. In case of such a bill there is no liability unless conditions agreed upon are fulfilled. However, the rights of a holder in due course will not be affected at all.
Showing posts with label Escrow. Show all posts
Showing posts with label Escrow. Show all posts
Friday, May 27, 2011
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