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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
Australian and New Zealand Commentary on Halsbury's Laws of England (Fourth Edition). Butterworths. 1974. Title "Chapter Sixteen: Bills of Exchange and other Negotiable Instruments". Pages 12 to 14, 17, 18, 20, 26 and 28. Wily, H Jenner. The Abridgement of New Zealand Case Law. Butterworths. Wellington. 1963. Volume 1. Pages 10, 13 to 15, 18 ...
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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 ...
The Twelfth Edition of Business Law: Text Cases (Clarkson, Miller & Cross), says that formal contracts are, "contracts that require a special form or method of creation to be enforceable." It uses negotiable instruments as an example of formal contracts, such as: checks, drafts, promissory notes, and certificates of deposit.
The shelter rule also applies to the transfer of negotiable instruments. If the recipient of a negotiable interest is a donee (that is, a person who receives by gift), that person would generally not have the rights of a holder in due course - that is, a person who received the instrument for value and without notice of other claims. However ...
The Restatement (Second) of the Law of Contracts is a legal treatise from the second series of the Restatements of the Law, and seeks to inform judges and lawyers about general principles of contract common law. It is one of the best-recognized and frequently cited legal treatises [1] in all of American jurisprudence.
The Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988, which amended the Negotiable Instruments Act, 1881, established that payment of a cheque not presented to the bank within six months from the date on which it was drawn could not be enforced if the account against which it was drawn did not have sufficient funds.