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Which of the following is not a characteristic of Bearer Debentures?
- a)They are treated as negotiable instruments
- b)Their transfer requires a deed of transfer
- c)They are transferable by mere delivery
- d)The interest on it is paid to the holder irrespective of identity.
Correct answer is option 'B'. Can you explain this answer?
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Which of the following is not a characteristic of Bearer Debentures?a)...
As there is no deed required for transfer of debentures, We can transfer debentures using Instrument of transfer.
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Which of the following is not a characteristic of Bearer Debentures?a)...
Bearer Debentures are a type of debenture where the person holding the debenture is entitled to receive the interest and principal amount on it. Here are the characteristics of Bearer Debentures:
a) They are treated as negotiable instruments: Bearer Debentures are considered as negotiable instruments because they are freely transferable from one person to another.
b) Their transfer requires a deed of transfer: This statement is incorrect. Bearer Debentures can be transferred by mere delivery, which means that the holder of the debenture can transfer it to another person by simply handing it over to them.
c) They are transferable by mere delivery: As mentioned above, Bearer Debentures are transferable by mere delivery, which means that the holder of the debenture can transfer it to another person by simply handing it over to them.
d) The interest on it is paid to the holder irrespective of identity: Bearer Debentures are anonymous, which means that the identity of the holder is not known to the company. Therefore, the interest on the debenture is paid to the holder irrespective of their identity.
In conclusion, option B is not a characteristic of Bearer Debentures because their transfer does not require a deed of transfer.
a) They are treated as negotiable instruments: Bearer Debentures are considered as negotiable instruments because they are freely transferable from one person to another.
b) Their transfer requires a deed of transfer: This statement is incorrect. Bearer Debentures can be transferred by mere delivery, which means that the holder of the debenture can transfer it to another person by simply handing it over to them.
c) They are transferable by mere delivery: As mentioned above, Bearer Debentures are transferable by mere delivery, which means that the holder of the debenture can transfer it to another person by simply handing it over to them.
d) The interest on it is paid to the holder irrespective of identity: Bearer Debentures are anonymous, which means that the identity of the holder is not known to the company. Therefore, the interest on the debenture is paid to the holder irrespective of their identity.
In conclusion, option B is not a characteristic of Bearer Debentures because their transfer does not require a deed of transfer.
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Which of the following is not a characteristic of Bearer Debentures?a)They are treated as negotiable instrumentsb)Their transfer requires a deed of transferc)They are transferable by mere deliveryd)The interest on it is paid to the holder irrespective of identity.Correct answer is option 'B'. Can you explain this answer?
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