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The Negotiable Instruments Act[1]

The Negotiable Instruments Act[1]

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Categories:Types, Business/Law
Published by: Presidency Student Forum on Jul 29, 2010
Copyright:Attribution Non-commercial

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07/13/2014

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The Negotiable InstrumentsAct, 1881
 
Negotiable Instrument
Negotiable:
transferable from one person to another so as to constitute the person the holder thereof, theinstrument is said to be negotiated.
Instrument:
any written document by which a right iscreated in favor of some person.
Negotiable instrument
is a document by which rightsvested in a person can be transferred to another person.
 
N
egotiable Instrument (contd«)
N
egotiable instrument are -
promissory note,
bill of exchange,
cheque, etc.
 A negotiable instrument may be made payableto
two or more payees jointly 
, or it may bemade payable in the
alternative to one of two
,or 
one or some of several payees
.

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