F.W.Taylor

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Frederick Winslow Taylor also known as F.W.Taylor. frederick Winslow Taylor was an american mechanical engineer. f.w.taylor was born on march 20,1856 .He was the one of the first financial consultants.he is alsoKnown for"Father"of the Scientific management & Efficiency Movement, Father of Industrial Engineering.Taylor was the son of a lawyer. He entered Phillips Exeter Academy in New Hampshire in 1872. In 1911, Taylor summed up his efficiency techniques in his book ' The Principles of Scientific Management'. Taylor was also an athlete who competed nationally in tennis. His occupation was Efficiency expert Management consultant. He got the Awards of Elliott Cresson Medal (1902).
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Negotiable instrument

 Negotiable Instrument

Negotiable Instruments are useful for making payments and discharging business obligations.commercial banks also deal with these instruments .the bank collects these instruments on behalf of the customer,discount these instruments on behalf of the customer.


section 13 of the Indian negotiable instruments act(1881) defines a negotiable instrument as "a promissory note,bill of exchange or cheque payable either to order or the bearer".

there are three negotiable instruments , they are Cheque,promissory note, and bill of exchange.

characteristics of negotiable instrument

  • transfer ability   : negotiable instrument is freely transferable from one person to another person.
  • negotiability       :  it means that the bonafide transferee of the instrument becomes a holder in due course and gets a better title than that  of the transferor  or any previous holders.
  • right of action    : the person who have negotiable instrument have the right right to bring legal action against the previous holders ,in case the holder didn't pay the amount of the instruments
  • equities               : rights of the holder in due course must not be affected by certain defenses which may be available against previous holders.
  • consideration     : in a  suit for the recovery of money under negotiable instruments,the holder need not give further evidence of debt unless the other party liable under it challenges it on the basis of absence of consideration

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