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  • Negotiable Instrument Act, 1881: Applicable To Whole of India 1 March 1882

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    SAI TEJA NAIK
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    The Negotiable Instruments Act of 1881 defines and amends laws related to promissory notes, bills of exchange, and checks. The Act applies to all of India including Jammu and Kashmir and came into force on March 1st, 1882. A negotiable instrument is a written document that is transferable and specifies payment to a specific person or bearer at a specific date, including promissory notes, bills of exchange, and checks.

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    The Negotiable Instruments Act of 1881 defines and amends laws related to promissory notes, bills of exchange, and checks. The Act applies to all of India including Jammu and Kashmir and came into force on March 1st, 1882. A negotiable instrument is a written document that is transferable and specifies payment to a specific person or bearer at a specific date, including promissory notes, bills of exchange, and checks.

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    Negotiable Instrument Act, 1881: Applicable To Whole of India 1 March 1882

    Uploaded by

    SAI TEJA NAIK
    The Negotiable Instruments Act of 1881 defines and amends laws related to promissory notes, bills of exchange, and checks. The Act applies to all of India including Jammu and Kashmir and came into force on March 1st, 1882. A negotiable instrument is a written document that is transferable and specifies payment to a specific person or bearer at a specific date, including promissory notes, bills of exchange, and checks.

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    NEGOTIABLE INSTRUMENT ACT,

    1881
    Introduction
    This Act is enacted to define and amend laws relating to promissory note, bills of exchange and
    cheque.
    This Act is applicable to whole of India including Jammu and Kashmir.
    This act came into force on 1st March 1882.

    Meaning of Negotiable instrument

    piece of Negotiable
    transferability
    paper Instruments

    Negotiable means instrument means piece of


    transferability paper or any document

    A negotiable instrument is
    actually a written document and is transferrable.
    This document specifies payment to a specific person or the bearer of the instrument at a specific
    date.

    instrument viz. promissory note, bills of exchange and cheque.

    Kinds of negotiable
    instruments - Section 13

    Promissory note - Bills of exchange - Cheque -


    Section 4 Section 5 Section 6

    Features of Negotiable Instruments


    1) It should be in writing
    2) Freely transferable.

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