The Negotiable Instruments Act, 1881 — Bare Act, All Sections & Free PDF
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Overview
An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques.
Sections (Showing 1 to 10 of 155)
Section 1 to Section 10 (10 Sections)
Short title.
This Act may be called the Negotiable Instruments Act, 1881. Local extent. Saving of usages relating to hundis, etc. --It extends to the whole of India 1 *** but nothing herein con...
[Repealed.].
[ Repeal of enactments.] Rep. by the Repealing and Amending Act, 1891 (12 of 1891), s. 2 and the Schedule I.
Interpretation-clause.
In this Act-- 1 * * * * * Banker . 2 [banker includes any person acting as a banker and any post office savings bank;] 3 * * * * *
Promissory note''.
A "Promissory note" is an instrument in writing (not being a bank-note or a currency-note) containing an unconditional undertaking, signed by the maker, to pay a certain sum of mon...
Bill of exchange''.
A "bill of exchange" is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain sum of money only to, or to the...
Cheque''.
1 [A cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand and it includes the electronic image of a truncated cheque an...
Drawer.
The maker of a bill of exchange or cheque is called the drawer; the person thereby directed to pay is called the drawee. "Drawee in case of need". -- When in the Bill or in any ind...
Holder''.
The "holder" of a promissory note, bill of exchange or cheque means any person entitled in his own name to the possession thereof and to receive or recover the amount due thereon f...
Holder in due course''.
"Holder in due course" means any person who for consideration became the possessor of a promissory note, bill of exchange or cheque if payable to bearer, or the payee or indorsee t...
Payment in due course''.
"Payment in due course" means payment in accordance with the apparent tenor of the instrument in good faith and without negligence to any person in possession thereof under circums...
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