Which of the following is false with respect to the law of negotiable instruments?
A) Negotiable instruments are controlled by provincial legislation.
B) The Bills of Exchange Act is federal legislation.
C) The Bills of Exchange Act governs the area of negotiable instruments.
D) A holder in due course is in a better position than he would be as the receiver of contractual rights through assignment.
E) A bill of exchange involves three parties.

Question

Quizplus · Accepted Answer

Negotiable instruments in many jurisdictions, including Canada, are governed by federal legislation, such as the Bills of Exchange Act, rather than provincial legislation. This ensures uniformity in the rules governing these financial instruments across the country.

Which of the Following Is False with Respect to the Law