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The draft thus prepared for the fourth time was introduced in the council and was passed into law in 1881 being the Negotiable Instruments Act, 1881 (Act No.26 of 1881). [1] The most important class of Credit Instruments that evolved in India were termed Hundi. Their use was most widespread in the twelfth century and has continued till today.
A hundi for Rs 2500 of 1951, stamped in the Bombay Province with a pre-printed revenue stamp.. A hundi or hundee is a financial instrument that was developed in Medieval India for use in trade and credit transactions.
According to section 4 of India's Negotiable Instruments Act, 1881, "a Promissory Note is a writing (not being a bank note or currency note), containing an unconditional undertaking, signed by the maker to pay a certain sum of money only to or to the order of a certain person or the bearer of the instrument". [14]
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.
Negotiable Instruments Act; ... was an Indian revolutionary from Tamil Nadu who fought against British colonial rule in India_2 April 1881. ... at 10:32 (UTC). Text ...
Central Provinces Land-revenue Act 1881 18 Negotiable Instruments Act 1881 26 Indian Trusts Act 1882 2 Transfer of Property Act 1882 4 Indian Easements Act 1882 5 Powers-of-Attorney Act 1882 7 Presidency Small Cause Courts Act 1882 15 Land Improvement Loans Act 1883 19 Panjab District Boards Act 1883 20 Explosives Act 1884 4 Agriculturists ...
Category: 1881 in law. ... Negotiable Instruments Act, 1881 This page was last edited on 19 November 2018, at 01:51 (UTC). Text is available under the ...
Law pertaining to negotiable instruments. ... Bankers' Books Evidence Act, 1891; ... Negotiable Instruments Act, 1881;