Bare Act Search Results

Negotiable Instruments Act, 1881 Chapter XIV

Title: Of Crossed Cheques

State: Central

Year: 1881

.....such payment.1 [ 2 [Explanation I]--A bankerreceives payment of a crossed cheque for a customer within the his customer's account with the amount of the cheque before receiving payment thereof.]3 [Explanation II.--It him, to verify the prima facie genuineness of the chequeto be truncated and any fraud, forgery or tampering apparent on the face of the instrument that can be verified with due diligence and. _______________________ 1. Added by Act 18 of 1922, sec. 22. Explanation re-numbered as Explanation I thereof by Act 55 of , sec. (w. --).3. Inserted55 of , sec. (w. --). Section 131A - Application of Chapter to drafts 1 [A. Application of Chapterto draftsThe provisions of this Chapter shall apply to any85A, as if the draft were a cheque.]___________________1. Added by Act of , sec. .

Negotiable Instruments Act, 1881 Chapter VII

Title: Of Discharge from Liability on Notes, Bills and Cheques

State: Central

Year: 1881

..... ( 2 ) In determining what is a reasonable time, regard sh all be had to the nature of the instrument, the usage of trade and of bankers, and the facts of the particular case. ( 3 ) The holder of the cheque as to which such dr awer or person is so discharged sh all be a creditor, in lieu of such dr awer or person, of such banker to the extent of such discharge and entitled to recover the amount from hi m. Illustrations (a) A draws a cheque for Rs. 1, 000, and, when the cheque ought to be presented, has funds at the bank to meet it. The bank fails before the cheque is presented. The drawer is discharged, but the holder can prove against the bank for the amount of the cheque. (b) A draws a cheque at Ambala on a bank in Calcutta. The bank fails before the cheque could be presented in ordinary course. A is not discharged, for he has not suffered actual damage through any delay in presenting the cheque.] _____________________ 1. Substituted by Act 6 of 1897, sec. 3, for section 84. Section 85 - Cheque payable to order 1 [(1)]Where a cheque payableto order purports to be indorsed by or on behalf of the payee, thedrawee isdischarged by payment in due course. 2.....

Foreign Exchange Regulation Act, 1973 Section 42

Title: Encashment of Cheque, Draft, Etc.

State: Central

Year: 1973

.....(1) of section 19, read with section 67; or (ii) an investigation is being made into any alleged contravention of any other provision of this Act or of any rule, direction or order made thereunder; or (iii) any proceeding in respect of any such contravention as is referred to in clause (i) or clause (ii) is pending before an officer of Customs or an officer of Enforcement or a court, and any draft, cheque (including traveller's cheque) or other instrument being the subject-matter of such investigation or proceeding is in the custody of an officer of Customs or of an officer of Enforcement or of a court, then- (a) where such draft, cheque (including traveller's cheque) or other instrument is in the custody of an officer of Customs, the Collector of Customs; or (b) where such draft, cheque (including traveller's cheque) or other instrument is in the custody of an officer of Enforcement, the Director of Enforcement; or (c) where such draft, cheque (including traveller's cheque) or other instrument is in the custody of a court, the court, on an application made to it in this behalf by the Collector of Customs or as the case may be , by the Director of Enofrcement,may.....

Foreign Exchange Regulation Act, 1973 [Repealed] Section 42

Title: Encashment of Cheque, Draft, Etc.

State: Central

Year: 1973

.....(1) of section 19, read with section 67; or (ii) an investigation is being made into any alleged contravention of any other provision of this Act or of any rule, direction or order made thereunder; or (iii) any proceeding in respect of any such contravention as is referred to in clause (i) or clause (ii) is pending before an officer of Customs or an officer of Enforcement or a court, and any draft, cheque (including traveller's cheque) or other instrument being the subject-matter of such investigation or proceeding is in the custody of an officer of Customs or of an officer of Enforcement or of a court, then- (a) where such draft, cheque (including traveller's cheque) or other instrument is in the custody of an officer of Customs, the Collector of Customs; or (b) where such draft, cheque (including traveller's cheque) or other instrument is in the custody of an officer of Enforcement, the Director of Enforcement; or (c) where such draft, cheque (including traveller's cheque) or other instrument is in the custody of a court, the court, on an application made to it in this behalf by the Collector of Customs or, as the case may be, by the Director of Enforcement, .....

Negotiable Instruments Act, 1881 Chapter II

Title: Of Notes, Bills and Cheques

State: Central

Year: 1881

.....to the order of, a certain person or to the bearer of the instrument. A promise or order to pay is not "conditional", within the meaning of this section and section 4, by reason of the time for payment of the amount or any instalment thereof being expressed to be on the lapse of a certain period after the occurrence of a specified event which, according to the ordinary expectation of mankind, is certain to happen, although the time of its happening may be uncertain. The sum payable may be "certain", within the meaning of this section and section 4, although it includes future interest or is payable at an indicated rate of exchange, or is according to the course of exchange, and although the instrument provides that, on default of payment of an instalment, the balance unpaid shall become due. The person to whom it is clear that the direction is given or that payment is to be made may be a "certain person", within the meaning of this section and section 4, although he is mis-named or designated by description only. Section 6 - "Cheque" 1[ 6 . "Cheque" A "cheque" is a bill of exchange dr awn on a specified banker and not expressed to be payable other wise than on.....

Cheques Act, 1957 Complete Act

State: Central

Year: 1957

.....08: PROVISIONS AS TO NORTHERN IRELAND -This Act extends to Northern Ireland, but for the purposes of section 6 of the Government of Ireland Act, 1920, so much of the provisions of this Act as relates to, or affects, instruments other than negotiable instruments shall be deemed to be provisions of an Act passed before the appointed day within the meaning of that section. SCHEDULE 01: ENACTMENTS REPEALED (Section 6) Session and Chapter Short title Extent of Repeal 45 & 46 Vict. c 61 The Bills of Exchange Act, 1882. Section eightytwo 46 & 47 Vict. c. 55 The Revenue Act, 1883. Section seventeen 6 Edw. 7c. 17 The Bills of Exchange (Crossed The whole Act. Cheques) Act, 1906. 22 & 23 Geo. 5c. 44 The Bills of Exchange Act, 1882 The whole Act. Amendment Act, 1932 Central Bare Acts

Negotiable Instruments Act, 1881 Chapter III

Title: Parties to Notes, Bills and Cheques

State: Central

Year: 1881

..... When the holder of an accepted bill of exchange enters into any contract with the acceptor which, under section 134 or 135 of the Indian Contract Act, 1872 (9 of 1872), would discharge the other parties, the holder may expressly reserve his right to charge the other parties, and in such case they are not discharged. Section 40 - Discharge of indorser's liability Where the holder of a negotiable instrument, without the consent of the indorser, destroys or impairs the indorser's remedy against a prior party, the indorser is discharged from liability to the holder to the same extent as if the instrument had been paid at maturity. Illustration A is the holder of a bill of exchange made payable to the order of B, which contains the following indorsements in blank:-- First indorsement, "B". Second indorsement, "Peter Williams". Third indorsement "Wright & Co.". Fourth indorsement, "John Rozario". This bill A puts in suit against John Rozario and strikes out, without John Rozario's consent, the indorsements by Peter Williams and Wright & Co. A is not entitled to recover anything from John Rozario. Section 41 - Acceptor bound, although indorsement.....

Negotiable Instruments Act, 1881 Section 84

Title: When Cheque Not Duly Presented and Drawer Damaged Thereby

State: Central

Year: 1881

.....of the banker to a large amount than he would have been if such cheque had been paid. ( 2 ) In determining what is a reasonable time, regard sh all be had to the nature of the instrument, the usage of trade and of bankers, and the facts of the particular case. ( 3 ) The holder of the cheque as to which such dr awer or person is so discharged sh all be a creditor, in lieu of such dr awer or person, of such banker to the extent of such discharge and entitled to recover the amount from hi m. Illustrations (a) A draws a cheque for Rs. 1, 000, and, when the cheque ought to be presented, has funds at the bank to meet it. The bank fails before the cheque is presented. The drawer is discharged, but the holder can prove against the bank for the amount of the cheque. (b) A draws a cheque at Ambala on a bank in Calcutta. The bank fails before the cheque could be presented in ordinary course. A is not discharged, for he has not suffered actual damage through any delay in presenting the cheque.] _____________________ 1. Substituted by Act 6 of 1897, sec. 3, for section 84.

Negotiable Instruments Act, 1881 Section 6

Title: "cheque"

State: Central

Year: 1881

.....with the use of digital signature (with or without biometrics signature) and asymmetric crypto system; (b) "a truncated cheque' me ans a cheque which is truncated during the course of a clearing cycle, either by the clearing house or by the bank whether paying or receiving payment, immediately on generation of an electronic image for transmission, sub stituting the further physical movement of the cheque in writing. Explanation II.-- For the purposes of this section, the expression "clearing house" me ans the clearing house managed by the Reserve B ank of India or a clearing house recognised as such by the Reserve B ank of India.] _____________________ 1 . Substituted b y Act 55 of 2002 , sec. 2 , for "A "cheque" is a bill of exchange dr awn on a specified banker and not expressed to be payable other wise than on demand" (w .e.f . 6 - 2 - 2003 ).

Negotiable Instruments Act, 1881 Section 138

Title: Dishonour of Cheque for Insufficiency, Etc., of Funds in the Account

State: Central

Year: 1881

.....notice in writing, to the dr awer of the cheque,2[within thirty days] of the receipt of information by hi m from the bank regarding the return of the cheque as unpaid; and (c) the dr awer of such cheque fails to make the payment of the said amount of money to the payee or, as the case may be, to the holder in due course of the cheque, within fifteen days of the receipt of the said notice. Explanation.-- For the purposes of this section, "debt or other liability" me ans a legally enforceable debt or other liability.] ____________________ 1 . Substituted b y Act 55 of 2002 , sec. 7 , for "a term which may be extended to one year" (w .e.f . 6 - 2 - 2003 ). 2 . Substituted b y Act 55 of 2002 , sec. 7 , for "within fifteen days" (w .e.f . 6 - 2 - 2003 ).