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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
Sahyog means co-operation in Hindi and Gujrati, the predominant [6] languages of traders. The hundi is so named because it required the co-operation of multiple parties to ensure that the hundi has an acceptable risk and fairly good likelihood of being paid, in the absence of a formalized credit monitoring and reporting framework.
2002: 33 Haj Committee Act: 2002: 35 Foreign Aircraft (Exemption from Taxes and Duties on Fuel and Lubricants) Act: 2002: 36 Multi-State Co-operative Societies Act: 2002: 39 Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act: 2002: 54 Unit Trust of India (Transfer of Undertaking and Repeal) Act: 2002: 58
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 ...
The act also provides for the appointment of the Banking Ombudsman, who is responsible for resolving complaints against banks. [81] Negotiable Instruments Act, 1881: This act governs the use and transfer of negotiable instruments such as cheques, promissory notes, and bills of exchange. It provides for the rights and obligations of parties to ...
This is a category of articles concerning acts of Parliament (laws enacted by the Parliament of India in 2002). For more general discussion of Indian legal topics, see Category:Law of India and its other subcategories.
Negotiable instruments and shares in corporations. 77 Sale by public auction. 78 Irregularity not to vitiate sale, but any person injured may sue. 79 Delivery of movable property, debts and shares. 80 Transfer of negotiable instruments and shares. 81 Vesting order in case of other property.
The Official Languages Act, 1963 which came into effect on 26 January 1965, made provision for the continuation of English as an official language alongside Hindi. [2] In 1968, the official language resolution was passed by the Parliament of India. As per the resolution, the Government of India was obligated to take measures for the development ...