Bare Act Search Results

Negotiable Instruments Act, 1881 Section 21

Title: "at Sight", "on Presentment", "after Sight"

State: Central

Year: 1881

In a promissory note or bill of exchange the expressions "at sight" and "on presentment" means on demand. The expression "after sight" means, in a promissory note, after presentment for sight, and, in a bill of exchange after acceptance, or noting for non-acceptance, or protest for non-acceptance.

Negotiable Instruments Act, 1881 Section 23

Title: Calculating Maturity of Bill or Note Payable So Many Months After Date or Sight

State: Central

Year: 1881

In calculating the date at which a promissory note or bill of exchange, made payable at stated number of months after date or after sight, or after a certain event, is at maturity, the period stated shall be held to terminate on the day of months which corresponds with the day on which the instrument is dated, or presented for acceptance or sight, or noted for non-acceptance, or protested for non-acceptance, or the event happens, or, where the instrument is a bill of exchange made payable a stated number of months after sight and has been accepted for honour, with the day on which it was so accepted. If the month in which the period would terminate has no corresponding day, the period shall be held to terminate on the last day of such month. Illustrations (a) A negotiable instrument dated 29th January, 1878, is made payable at one month after date. The instrument is at maturity on the third day after the 28th February, 1878. (b) A negotiable instrument, dated 30th August, 1878, is made payable three months after date. The instrument is at maturity on the 3rd December, 1878. (c) A promissory note or bill of exchange, dated 31st August, 1878, is made payable three months a

Negotiable Instruments Act, 1881 Section 24

Title: Calculating Maturity of Bill or Note Payable So Many Days After Date or Sight

State: Central

Year: 1881

In calculating the date at which a promissory note or bill of exchange made payable a certain number of days after date or after sight or after a certain event is at maturity, the day of the date, or of presentment for acceptance or sight, or of protest for non-acceptance, or on which the event happens, shall be excluded.

Negotiable Instruments Act, 1881 Section 62

Title: Presentment of Promissory Note for Sight

State: Central

Year: 1881

A promissory note, payable at a certain period after sight must be presented to the maker thereof for sight (if he can after reasonable search be round) by a person entitled to demand payment, within a reasonable time after it is made and in business hours on a business day. In default of such presentment, no party thereto is liable thereon to the person making such default.

Negotiable Instruments Act, 1881 Section 66

Title: Presentment for Payment of Instrument Payable After Date or Sight

State: Central

Year: 1881

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.

Negotiable Instruments Act, 1881 Complete Act

State: Central

Year: 1881

.....but indorsed the bill to A. A's title is subject to the same objection as the drawer's title. SECTION 60: INSTRUMENT NEGOTIABLE TILL PAYMENT OR SATISFACTION A negotiable instrument may be negotiated (except by the maker, drawee or acceptor after maturity) until payment or satisfaction thereof by the maker, drawee or acceptor at or after maturity, but not after such payment or satisfaction. SECTION 61: PRESENTMENT FOR ACCEPTANCE A bill of exchange payable after sight must, if no time or place is specified therein for presentment, be presented to the drawee thereof for acceptance, if he can, after reasonable search, be found, by a person entitled to demand acceptance within a reasonable time after it is drawn, and in business hours on a business day. In default of such presentment, on party thereto is liable thereon to the person making such default. If the drawee cannot, after reasonable search, be found, the bill is dishonoured. If the bill is directed to the drawee at a particular place, it must be presented at that place, and if at the due date for presentment he cannot, after reasonable search, be found thereon, the bill is dishonoured,20[Where authorised by agreement or.....

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.....

Bills of Exchange Act, 1882 Complete Act

State: Central

Year: 1882

.....must be filled up within a reasonable time and, strictly in accordance with the authority given. Reasonable time, for this purpose, is a question of fact: Provided that if any such instrument after completion is negotiated to a holder in due course, it shall be valid and effectual for all purposes in his hands and he may enforce it as if it had been filled up within a reasonable time and strictly in accordance with the authority given. SECTION 21: DELIVERY (1) Every contract on a bill, whether it be the drawer's, the acceptor's, or an indoeser's, is incomplete and revocable until delivery of the instrument in order to give effect thereto : Provided that where an acceptance is written on a bill, and the drawee gives notice to or according to the directions of the persons entitled to the bill that he has accepted it, the acceptance then becomes complete and irrevocable. (2) As between immediate parties, and as regards a remote party other than a holder in due course, the delivery- (a) in order to be effectual must be made either by or under the authority of the party drawing, accepting or indorsing, as the case may be; (b) may be shown to have been conditional or for a.....

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 Complete Act

Title: Negotiable Instruments Act, 1881

State: Central

Year: 1881

.....for unlawful consideration Section59 - Instrument acquired after dishonour or when overdue Section60 - Instrument negotiable till payment or satisfaction Chapter V Section61 - Presentment for acceptance Section62 - Presentment of promissory note for sight Section63 - Drawee's time for deliberation Section64 - Presentment for payment Section65 - Hours for presentment Section66 - Presentment for payment of instrument payable after date or sight Section67 - Presentment for payment of promissory note payable by instalments Section68 - Presentment for payment of instrument payable at specified place and not elsewhere Section69 - Instrument payable at specified place Section70 - Presentment where no exclusive place specified Section71 - Presentment when maker, etc., has no known place of business or residence Section72 - Presentment of cheque to charge drawer Section73 - Presentment of cheque to charge any other person Section74 - Presentment of instrument payable on demand Section75 - Presentment by or to agent, representative of deceased, or assignee of insolvent Section75A - Excuse for delay in presentment for acceptance or payment Section76 - When presentment.....