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Start Free TrialNegotiable Instruments Act, 1881 Section 141
Title: Offences by Companies
State: Central
Year: 1881
.....Government or State Government or a financial corporation owned or controlled by the Central Government or the State Government, as the case may be, he shall not be liable for prosecution under this Chapter.] (2) Notwithstanding anything contained in sub-section (1), where any offence under this Act has been committed by a company and it is proved that the offence has been committed with the consent or connivance of, or is attributable to, any neglect on the part of, any director, manager, secretary or other officer of the company, such director, manager, secretary or other officer shall also be deemed to be guilty of that offence and shall be liable to be proceeded against and punished accordingly. Explanation.--For the purposes of this section,-- (a) "company" means any body corporate and includes a firm or other association of individuals; and (b) "director", in relation to a firm, means a partner in the firm.] ___________________ 1. Inserted by Act 66 of 1988, sec. 4 (w.e.f. 1-4-1989). 2. Inserted by Act 55 of 2002, sec. 8 (w.e.f. 6-2-2003).
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 99
Title: Noting
State: Central
Year: 1881
When a promissory note or bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may cause such dishonour to be noted by a notary public upon the instrument, or upon a paper attached thereto, or partly upon each. Such note must be made within a reasonable time after dishonour, and must specify the date of dishonour, the reason, if any, assigned for such dishonour, or, if the instrument has not been expressly dishonoured, the reason why the holder treats it as dishonoured, and the notary's charges.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 114
Title: Right of Payer for Honour
State: Central
Year: 1881
Any person so paying is entitled to all the rights in respect of the bill, of the holder at the time of such payment, and may recover from the party for whose honour he pays all sums so paid, with interest thereon and with all expenses properly incurred in making such payment.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 112
Title: When Acceptor for Honour May Be Charged
State: Central
Year: 1881
An acceptor for honour cannot be charged unless the bill has at its maturity been presented to the drawee for payment, and has been dishonoured by him, and noted or protested for such dishonour.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 111
Title: Liability of Acceptor for Honour
State: Central
Year: 1881
An acceptor for honour binds himself to all parties subsequent to the party for whose honour he accepts to pay the amount of the bill if the drawee do not; and such party and all prior parties are liable in their respective capacities to compensate the acceptor for honour for all loss or damage sustained by him in consequence of such acceptance. But an acceptor for honour is not liable to the holder of the bill unless it is presented, or (in case the address given by such acceptor on the bill is a place other than the place where the bill is made payable) forwarded for presentment, not later than the day next after the day of its maturity.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 110
Title: Acceptance Not Specifying for Whose Honour It is Made
State: Central
Year: 1881
Where the acceptance does not express for whose honour it is made it shall be deemed to be made for the honour of the drawer.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 107
Title: Reasonable Time for Transmitting Such Notice
State: Central
Year: 1881
A party receiving notice of dishonour, who seeks to enforce his right against a prior party, transmits the notice within a reasonable time if he transmits it within the same time after its receipt as he would have had to give notice if he had been the holder.
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 105
Title: Reasonable Time
State: Central
Year: 1881
In determining what is a reasonable time for presentment for acceptance or payment, for giving notice of dishonour and for noting, regard shall be had to the nature of the instrument and the usual course of dealing with respect to similar instruments; and, in calculating such time, public holidays shall be excluded.
View Complete Act List Judgments citing this sectionNegotiable Instruments Act, 1881 Section 104
Title: Protest of Foreign Bills
State: Central
Year: 1881
Foreign bills of exchange must be protested for dishonour when such protest is required by the law of the place where they are drawn.
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