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Negotiable Instruments Act, 1881 is an act in India dating from the British colonial rule, that is still in force with significant amendments recently. It deals with the law governing the usage of negotiable instruments in India. The word "negotiable" means transferable and an "instrument" is a document giving legal effect by the virtue of the law
In the Commonwealth of Nations almost all jurisdictions have codified the law relating to negotiable instruments in a Bills of Exchange Act, e.g. Bills of Exchange Act 1882 in the UK, Bills of Exchange Act 1890 in Canada, Bills of Exchange Act 1908 in New Zealand, Bills of Exchange Act 1909 in Australia, [2] the Negotiable Instruments Act, 1881 in India and the Bills of Exchange Act 1914 in ...
Banking Regulation Act: 1949: 10 West Godavari District (Assimilation of Laws on Federal Subjects) Act: 1949: 20 Chartered Accountants Act: 1949: 38 Industrial Disputes (Banking and Insurance Companies) Act: 1949: 54 Police Act: 1949: 64 Central Reserve Police Force Act: 1949: 66 High Courts (Seals) Act: 1950: 7 Immigrants (Expulsion from Assam ...
In commercial law, a holder in due course (HDC) is someone who takes a negotiable instrument in a value-for-value exchange without reason to doubt that the instrument will be paid. If the instrument is later found not to be payable as written, a holder in due course can enforce payment by the person who originated it and all previous holders ...
Year of enactment is 1881 not 1981 and it is the part of Mercantile Law. It is also a part of Indian Law and thus request you all not to remove the category tag of Category:Indian law and Category:Mercantile_law. Soon going to add some landmark judgments of Negotiable Instruments Act.
Partition Act, 1893; Presidency-Towns Insolvency Act, 1909; Provincial Insolvency Act, 1920; Recovery of Debts Due to Banks and Financial Institutions Act, 1993; Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest fact, 2002; Contract Act, 1872; Sale of Goods Act, 1930; Negotiable Instruments Act, 1881 ...
Apart from this, certain holidays which are celebrated nationally are declared centrally by the Union Government. Additionally, various state governments and union territories designate additional holidays on local festivals or days of importance as holidays as per section 25 of the Negotiable Instruments Act, 1881.
It uses negotiable instruments as an example of formal contracts, such as: checks, drafts, promissory notes, and certificates of deposit. These examples are all required to have special formation under the Uniform Commercial Code. [3]