Welcome to Scribd, the world's digital library. Read, publish, and share books and documents. See more
Download
Standard view
Full view
of .
Look up keyword
Like this
67Activity
0 of .
Results for:
No results containing your search query
P. 1
Negotiable Instrument Act 1881

Negotiable Instrument Act 1881

Ratings: (0)|Views: 2,134|Likes:
Published by selvarajc

More info:

Published by: selvarajc on Feb 12, 2010
Copyright:Attribution Non-commercial

Availability:

Read on Scribd mobile: iPhone, iPad and Android.
download as PPT, PDF, TXT or read online from Scribd
See more
See less

05/10/2013

pdf

text

original

 
 
Negotiable instrument Act 1881
Priya AbrahamFaculty, Dept of Management StudiesVCMCS
 
 
Introduction
Definition “Negotiable instrument”Negotiable means transferableInstrument means a written document
A negotiable instrument is a document whichentitles a person to a sum of money and whichis transferable from one person to another bymere delivery or by indorsement and delivery.
It is a method of transferring a debt from oneperson to another.
 
 
Characteristics
Freely transferable
Title of holder free from all defectsA person who is holding negotiated instrument he is free from a defectin the title of the transferor Ex: S sells certain goods to B. B gives a promissory note to S for theprice. He refuses to pay the promissory note, claiming that the goodsare not according to order. If S sues B on the note, B’s defence isgood. But if he negotiates the note to H, a holder in due course, B’sdefence will be of no avail.
RecoveryA holder of the negotiable instrument can sue for recovery of theamount.
Presumptions
Negotiable instrument is for consideration
Dated
Reasonable Time of acceptance
Before the maturity it should transferred
Stamp when there is a dishonour 

Activity (67)

You've already reviewed this. Edit your review.
1 hundred reads
1 thousand reads
Tarun Sharma liked this
labor1_adu liked this
Sana Javaid liked this
Papiya Dasgupta liked this
shishusoni liked this
luvpriya liked this

You're Reading a Free Preview

Download
scribd
/*********** DO NOT ALTER ANYTHING BELOW THIS LINE ! ************/ var s_code=s.t();if(s_code)document.write(s_code)//-->