Bare Act Search Results

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 Chapter VI

Title: Of Payment and Interest

State: Central

Year: 1881

.....is on payment entitled to have it delivered up, to hi m, or if the instrument is lost or cannot be produced, to be indemnified against any further claim thereon against hi m. 2[( 2 ) Where the cheque is an electronic image of a truncated cheque, even after the payment the banker who received the payment sh all be entitled to retain the truncated cheque. ( 3 ) A certificate issued on the foot of the printout of the electronic image of a truncated cheque by the banker who paid the instrument, sh all be prima facie proof of such payment.] _____________________ 1. Section 81 renumbered as sub-section ( 1) thereof by Act 55 of 2002, sec. 4 (w .e.f. 6- 2- 2003). 2. Inserted by Act 55 of 2002, sec. 4 (w .e.f. 6- 2- 2003).

Municipal Taxation Act, 1881 Section 6

Title: Decision of Question Arising Under This Act

State: Central

Year: 1881

If any question arises whether any duty is military, {Ins. by Act 35 of 1934, s.2 and Sch.} [naval] {Ins.by Act 10 of 1927, s.2 and Sch.I.} [or air-force] duty within the meaning of this Act, the decision of the Central Government thereon shall be conclusive. If any question arises whether any person is compelled as aforesaid to reside within the limits of a municipality or is bound as aforesaid to keep any horse, the decision thereon of such authority as the Central Government may, from time to time, appoint in this behalf shall be conclusive.

Obstructions in Fairways Act, 1881 Section 6

Title: Proceeds How Applied

State: Central

Year: 1881

On realising the proceeds of such sale, the amount due for expenses and charges as aforesaid, together with the expenses of the sale, shall be deducted there from, and the surplus (if any) shall be paid to the owner of the thing sold, or, if or such person appear and claim such surplus.shall be held in deposit for payment, without interest to any person thereafter establishing his right to the same: Provided that he makes the claim within one year from the date of the sale.

Negotiable Instruments Act, 1881 Amending Act 1

Title: Amendment Act

State: Central

Year: 1881

..... P RAEMBLE An Act further to amend the Negotiable Instruments Act, 1881 , the B ankers' B ooks Evidence Act, 1891 and the Information Technology Act, 2000 . BE it enacted by Parliament in the Fifty-third year of the Republic of India as follows:-- CHAPTER I PRELIMINARY 1 . Sh ort title and commencement ( 1 ) This Act may be called the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 . ( 2 ) It sh all come into force on such date1as the Central Government may, by notification in the Official Gazette, appoint and different dates may be appointed for different provisions of this Act. CHAPTER II AMENDMENTS TO THE NEGOTIA B LE INSTRUMENTS ACT, 1881 2 . Sub stitution of new section for section 6 For section 6 of the Negotiable Instruments Act, 1881 ( 26 of 1881 ) (h ereinafter in this Chapter referred to as the principal Act), the following section sh all be sub stituted, namely:-- ' 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 demand and it includes the electronic image of a truncated cheque and a cheque in the electronic form. Explanation I.--For the.....

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 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 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 Section 64

Title: Presentment for Payment

State: Central

Year: 1881

.....entitled to demand any further information regarding the truncated chequefrom, the bank holding the truncated cheque in case of any reasonable suspicionabout the genuineness of the apparent tenor of instrument, and if the suspicionis that of any fraud, forgery, tampering er destruction of the instrument, itis entitled to further demand the presentment of the truncated cheque itselffor verification: Provided that the truncated cheque 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).

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.....