X entrusts Y with negotiable instruments end9rsed in blank Y sells them to Z in violation of private...........

Negotiable instrument Act Miscellaneous Provisions

X entrusts Y with negotiable instruments end9rsed in blank. Y sells them to Z in violation of private orders from X. The sale is:

Void.

Valid.

Voidable at the option of Y.

Voidable at the option of Z.

Explanation:

- Option 1: Void. This implies that the transaction is treated as though it never happened, with no legal effect. Violating private orders alone does not necessarily void a sale of negotiable instruments.

- Option 2: Valid. The negotiable instruments were endorsed in blank, allowing Y to transfer them. Z, as a holder in due course, can assume valid ownership despite X's private orders.

- Option 3: Voidable at the option of Y. This would mean Y can decide to void the transaction, but this is not applicable here as Y initiated the sale.

- Option 4: Voidable at the option of Z. This would imply Z can choose to void the transaction, but Z is a bonafide purchaser unaware of any private orders.