1.A bona fide holder for value takes free from any defect in the title of his predecessors.
2.A check cannot be accepted.
3.An endorsement by the drawee is null and void.
4.An instrument is a document of title to money.
5.Every instrument constitutes an independent contract embodying a payment obligation.
6.The bill of exchange was in its inception confine largely to the financing of foreign trade.
7.The check is payable to bearer.
8.The promissory note is a document in which A promises to pay a sum of money to B.
9.They would almost certainly be held by the court to be negotiable instruments, albeit outside the scope of the Bills of Exchange Act.
10.This autonomy of the payment obligation is essential to the marketability of instrument.