Negotiation by delivery

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..... bill of exchange or cheque payable to bearer is negotiable by delivery thereof. Exception : A promissory note, bill of exchange or cheque deliv­ered on condition that it is not to take effect exc .....

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..... er, who is at the time the banker of B, directs the banker to transfer the instrument to B's credit in the banker's account with B. The banker does so, and accordingly now possesses the instrument as .....

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