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Negotiable Instruments Act, 1881 Section 81 - Bare Act

StateCentral Government
Year
Section TitleDelivery of Instrument on Payment or Indemnity in Case of Loss
Act Info:

1[( 1 )] Any person liable to pay, and called upon by the holder thereof to pay, the amount due on a promissory note, bill of exchange or cheque is before payment entitled to have it sh own, and is on payment entitled to have it delivered up, to hi m, or if the instrument is lost or cannot be produced, to be indemnified against any further claim thereon against hi m.

2[( 2 ) Where the cheque is an electronic image of a truncated cheque, even after the payment the banker who received the payment sh all be entitled to retain the truncated cheque.

( 3 ) A certificate issued on the foot of the printout of the electronic image of a truncated cheque by the banker who paid the instrument, sh all be prima facie proof of such payment.]

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1. Section 81 renumbered as sub-section ( 1) thereof by Act 55 of 2002, sec. 4 (w .e.f. 6- 2- 2003).

2. Inserted by Act 55 of 2002, sec. 4 (w .e.f. 6- 2- 2003).


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