Bare Act Search Results

Negotiable Instruments Act, 1881 Complete Act

Title: Negotiable Instruments Act, 1881

State: Central

Year: 1881

Preamble1 - NEGOTIABLE INSTRUMENTS ACT, 1881 Chapter I Section1 - Short title Section2 - Repeal of enactments Section3 - Interpretation clause Chapter II Section4 - "Promissory note" Section5 - "Bill of exchange" Section6 - "Cheque" Section7 - "Drawer", "drawee" Section8 - "Holder" Section9 - "Holder in due course" Section10 - "Payment in due course" Section11 - "Inland instrument" Section12 - "Foreign instrument." Section13 - "Negotiable instrument" Section14 - Negotiation Section15 - Indorsement Section16 - Indorsement "in blank" and "in full"--"Indorsee" Section17 - Ambiguous instruments Section18 - Where amount is stated differently in figures and words Section19 - Instruments payable on demand Section20 - Inchoate stamped instruments Section21 - "At sight", "On presentment", "After sight" Section22 - "Maturity" Section23 - Calculating maturity of bill or note payable so many months after date or sight Section24 - Calculating maturity of bill or note payable so many days after date or sight Section25 - When day of maturity is a holiday Chapter III Section26 - Capacity to make, etc., promissory notes, etc. Section27 - Agency Section28 - Liability of.....

Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 Complete Act

Title: Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002

State: Central

Year: 2002

Preamble1 - NEGOTIABLE INSTRUMENTS (AMENDMENT AND MISCELLANEOUS PROVISIONS) ACT, 2002 Chapter I Section1 - Short title and commencement Chapter II Section2 - Substitution of new section for section 6 Section3 - Amendment of section 64 Section4 - Amendment of section 81 Section5 - Amendment of section 89 Section6 - Amendment of section 131 Section7 - Amendment of section 138 Section8 - Amendment of section 141 Section9 - Amendment of section 142 Section10 - Insertion of new sections after section 142 Chapter III Section11 - Amendment of section 2 Chapter IV Section12 - Amendment of section 1 Section13 - Insertion of a new section 81A

Negotiable Instruments Act, 1881 Section 74

Title: Presentment of Instrument Payable on Demand

State: Central

Year: 1881

Subject to the provisions of section 31, a negotiable instrument payable on demand must be presented for payment within a reasonable time after it is received by the holder.

Negotiable Instruments Act, 1881 Complete Act

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 FORGED An acceptor of a bill of.....

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.....

Negotiable Instruments Act, 1881 Chapter V

Title: Of Presentment

State: Central

Year: 1881

.....so demanded bythe drawee bank shall be retained by it, ifthe payment is made accordingly.] ____________________ 1. Section 64 renumbered assub-section (1) thereof by Act 55 of 2002, sec. 3 (w.e.f. 6-2-2003). 2. Insertedby Act 2 of 1885, sec. 4. 3. Insertedby Act 55 of 2002, sec, 3 (w.e.f. 6-2-2003). Section 65 - Hours for presentment Presentment for payment must be made during the usual hours of business and, if at a banker's, within banking hours. Section 66 - Presentment for payment of instrument payable after date or sight A promissory note or bill of exchange, made payable at a specified period after date or sight thereof, must be presented for payment at maturity. Section 67 - Presentment for payment of promissory note payable by instalments A promissory note payable by instalments must be presented for payment on the third day after the date fixed for payment of each instalment; and nonpayment on such presentment has the same effect as non-payment of a note at maturity. Section 68 - Presentment for payment of instrument payable at specified place and not elsewhere A promissory note, bill of exchange or cheque made, drawn or accepted payable at.....

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 35

Title: Liability of Indorser

State: Central

Year: 1881

In the absence of a contract to the contrary, whoever indorses and delivers a negotiable instrument before maturity, without, in such indorsement, expressly excluding or making conditional his own liability, is bound thereby to every subsequent holder, in case of dishonour by the drawee, acceptor or maker, to compensate such holder for any loss or damage caused to him by such dishonour, provided due notice of dishonour has been given to, or received by, such indorser as hereinafter provided. Every indorser after dishonour is liable as upon an instrument payable on demand.

The Indian Stamp Act, 1899 Complete Act

State: Assam

Year: 1899

THE INDIAN STAMP ACT, 1899 THE INDIAN STAMP ACT, 1899 [Act, No. 2 of 1899] [27th January, 1899] PREAMBLE An Act to consolidate and amend the law relating to Stamps, WHEREAS it is expedient to consolidate and amend the law relating to Stamps. It is hereby enacted as follows: - Chapter - 1 PRELIMINARY 1. Short title, extent and commencement :- (1) This Act may be called the Indian Stamp Act, 1899. (Substituted by Act 43 of 1955, Section3, for the former sub-section w.e.f. 1-4-1956) (2) It extends to the whole of India except the State of Jammu and Kashmir: Provided that it shall not apply to (Substituted by the A.O. (No.2) 1956, for "Part B States") [the territories which, immediately before the 1st November, 1956, were comprised in Part B States] (excluding the State of Jammu and Kashmir) except to the extent to which the provisions of this Act relate to rates of stamp-duty in respect of the documents specified in entry 91 of List I in the Seventh Schedule to the Constitution.] (3) It shall come into force on the first day of July, 1899. 2. Definitions:- In this Act, unless there is something repugnant in the subject or context, -- .....

Bills of Exchange Act, 1882 Complete Act

State: Central

Year: 1882

.....operates as notice that the agent has but a limited authority to sign, and the principal is only bound by such signature the agent in so signing was acting within the actual limit of his authority. SECTION 26: PERSON SIGNING AS AGENT OR IN REPRESENTATIVE CAPACITY (1) Where a person signs a bill as drawer, endorser or acceptor, and adds words to his signature, indicating that he signs for or on behalf of a principal, or in a representative character, he is not personally liable thereon ; but the mere addition to his signature of words describing him as an agent, or as filling a representative character, does not exempt him from personal liability. (2) In determining whether a signature on a bill is that of the principal or that of the agent by whose hand it is written, the construction most favourable to the validity of the instrument shall be adopted. SECTION 27: VALUE DEFINED (1) Valuable consideration for a bill may be constituted by- (a) any consideration sufficient to support a simple contract ; (b) an antecedent debt or liability. Such a debt or liability is deemed valuable consideration whether the bill is payable on demand or at a future time. (2) Where value.....