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Start Free TrialNegotiable Instruments Act, 1881 Chapter VIII
Title: Of Notice of Dishonour
State: Central
Year: 1881
.....is unnecessary No notice of dishonour is necessary-- (a) when it is dispensed with by the party entitled thereto; (b) in order to charge the drawer, when he has countermanded payment; (c) when the party charged could not suffer damage for want of notice; (d) when the party entitled to notice cannot after due search be found; or the party bound to give notice is, for any other reason, unable without any fault of his own to give it; (e) to charge the drawers, when the acceptor is also a drawer; (f) in the case of a promissory note which is not negotiable; (g) when the party entitled to notice, knowing the facts, promises unconditionally to pay the amount due on the instrument.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 135
Title: Law of Place of Payment Governs Dishonour
State: Central
Year: 1881
Where a promissory note, bill of exchange or cheque is made payable in a different place from that in which it is made or indorsed, the law of the place where it is made payable determines what constitutes dishonour and what notice of dishonour is sufficient. Illustration A bill of exchange drawn and indorsed in1[India], but accepted payable in France, is dishonoured. The indorsee causes it to be protested for such dishonour, and gives notice thereof in accordance with the law of France though not in accordance with the rules herein contained in respect of bills which are not foreign. The notice is sufficient. ___________________ 1. Substituted by Act 3 of 1951, sec. 3 and Sch., for "the States".
View Complete Act List Judgments citing this sectionPayment and Settlement Systems Act 2007 Section 25
Title: Dishonour of Electronic Funds Transfer for Insufficiency, Etc., of Funds in Theaccount
State: Central
Year: 2007
.....funds transfer through an instruction, authorisation, order or agreement, did not have reason to believe at the time of such instruction, authorisation, order or agreement that the credit of his account is insufficient to effect the electronic funds transfer. (4) The Court shall, in respect of every proceeding under this section, on production of a communication from the bank denoting the dishonour of electronic funds transfer, presume the fact of dishonour of such electronic funds transfer, unless and until such fact is disproved. (5) The provisions of Chapter XVII of the Negotiable Instruments Act, 1881(26 of 1881) shall apply to the dishonour of electronic funds transfer to the extent the circumstances admit. Explanation. For the purposes of this section, "debt or other liability" means a legally enforceable debt or other liability, as the case may be.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 106
Title: Reasonable Time of Giving Notice of Dishonour
State: Central
Year: 1881
If the holder and the party to whom notice of dishonour is given carry on business or live (as the case may be) in different places, such notice is given within a reasonable time if it is despatched by the next post or on the day next after the day of dishonour. If the said parties carry on business or live in the same place, such notice is given within a reasonable time if it is despatched in time to reach its destination on the day next after the day of dishonour.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 91
Title: Dishonour by Non-acceptance
State: Central
Year: 1881
A bill of exchange is said to be dishonoured by non-acceptance when the drawee, or one of several drawees not being partners, makes default in acceptance upon being duly required to accept the bill, or where presentment is excused and the bill is not accepted. Where the drawee is incompetent to contract, or the acceptance is qualified the bill may be treated as dishonoured.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 95
Title: Party Receiving Must Transmit Notice of Dishonour
State: Central
Year: 1881
Any party receiving notice of dishonour must, in order to render any prior party liable to himself, give notice of dishonour to such party within a reasonable time, unless such party otherwise receives due notice as provided by section 93.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 59
Title: Instrument Acquired After Dishonour or when Overdue
State: Central
Year: 1881
The holder of a negotiable instrument, who has acquired it after dishonour, whether by non-acceptance or non-payment, with notice thereof, or after maturity, has only, as against the other parties, the rights thereon of his transferor. Accommodation note or bill.--Provided that any person who, in good faith and for consideration, becomes the holder, after maturity, of a promissory note or bill of exchange made, drawn or accepted without consideration, for the purpose of enabling some party thereto to raise money thereon, may recover the amount of the note or bill from any prior party. Illustration The acceptor of a bill of exchange, when he accepted it, deposited with the drawer certain goods as a collateral security for the payment of the bill, with power to the drawer to sell the goods and apply the proceeds in discharge of the bill if it were not paid at maturity. The bill not having been paid at maturity, the drawer sold the goods and retained the proceeds, but indorsed the bill to A. A's title is subject to the same objection as the drawer's title.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 92
Title: Dishonour by Non-payment
State: Central
Year: 1881
A promissory note, bill of exchange or cheque is said to be dishonoured by non-payment when the maker of the note, acceptor of the bill or drawee of the cheque makes default in payment upon being duly required to pay the same.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 98
Title: When Notice of Dishonour is Unnecessary
State: Central
Year: 1881
No notice of dishonour is necessary-- (a) when it is dispensed with by the party entitled thereto; (b) in order to charge the drawer, when he has countermanded payment; (c) when the party charged could not suffer damage for want of notice; (d) when the party entitled to notice cannot after due search be found; or the party bound to give notice is, for any other reason, unable without any fault of his own to give it; (e) to charge the drawers, when the acceptor is also a drawer; (f) in the case of a promissory note which is not negotiable; (g) when the party entitled to notice, knowing the facts, promises unconditionally to pay the amount due on the instrument.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 103
Title: Protest for Non-payment After Dishonour by Non-acceptance
State: Central
Year: 1881
All bills of exchange drawn payable at some other place than the place mentioned as the residence of the drawee, and which are dishonoured by non-acceptance, may, without further presentment to the drawee, be protested for non-payment, in the place specified for payment, unless paid before or at maturity.
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