Chapter: 12th Commerce : Chapter 22 : The Negotiable Instruments Act 1881
The Negotiable Instruments Act 1881
The word ‘Negotiable’ means transferable from one person to another in return for consideration.
THE NEGOTIABLE INSTRUMENTS ACT 1881
The word ‘Negotiable’ means transferable from one
person to another in return for consideration. The word ‘Instrument’ means a
written document by which a right is created in favour of certain person. Thus,
a negotiable instrument is a document which entitles a person to a certain sum
of money and which is transferable from one person to another by mere delivery
or by endorsement and delivery. The terms delivery and endorsement has been
explained subsequently in this chapter. The law relating to negotiable
instruments is dealt in the Negotiable Instruments Act 1881. This Act speaks
about promissory note, bills of exchange and cheques.
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12th Commerce : Chapter 22 : The Negotiable Instruments Act 1881 : The Negotiable Instruments Act 1881 |
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12th Commerce : Chapter 22 : The Negotiable Instruments Act 1881