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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
Download as PDF; Printable version; ... Negotiable Instruments Act; ... was an Indian revolutionary from Tamil Nadu who fought against British colonial rule in India ...
Hundis are used as a form of remittance instrument to transfer money from place to place, as a form of credit instrument or IOU to borrow money and as a bill of exchange in trade transactions. The Reserve Bank of India describes the hundi as "an unconditional order in writing made by a person directing another to pay a certain sum of money to a ...
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 ...
Indian Stamp Act, 1899: This act regulates the payment of stamp duty on various financial instruments, such as promissory notes, bills of exchange, and share certificates. Negotiable Instruments Act, 1881: This act governs the use of negotiable instruments, such as cheques, bills of exchange, and promissory notes, in financial transactions.
Indian Treasure Trove Act 1878 6 Northern India Ferries Act 1878 17 Dekkhan Agriculturists’ Relief Act 1879 17 Legal Practitioners Act 1879 18 Religious Societies Act 1880 1 Kazis Act 1880 12 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
Post-dated cheques in Indian law are considered under the Negotiable Instruments Act, 1881.Post-dated cheques are common and enforceable. [9] In 1998, the Supreme Court ruled that a post-dated cheque is a bill of exchange and does not become payable on demand until the date written on the cheque
First Factory Act (1881) Negotiable Instruments Act, 1881; First complete Census in India (1881) Repeal of the Vernacular Press Act (1882) Establishment of Panjab University (1882) Government resolution on local self-government (1882) [16] Appointment of Education Commission under Sir William Wilson Hunter (1882) [17] Ilbert Bill (1883) Passed ...