NEGOTIABLE INTSTRUMENT/ MEANING/FEATURES/PRESUMPTIONS

PROMISSORY NOTE/BUSINESS LAW II

SHORT QUESTIONS ON LAW OF NEGOTIABLE INSTURMENTS ACT 1881 FOR 2019

• SHORT QUESTIONS
  LAW OF NEGOTIABLE INSTRUMENT
• SHASHI AGGARWAL ECONOMICS AND LAW CLASSES

• MEANING OF NEGOTIABLE INSTRUMENTS

1. THE LAW RELATING TO NEGOTIABLE INSTRUMENT IN INDIA IS CONTAINED IN THE NEGOTIABLE INSTRUMENT ACT 1881
2. THE TERM NEGOTIABLE INSTRUMENT MEANS A DOCUMENT TRANSFERABLE BY DELIVER,
3. ACCORDING TO SECTION 13(1) OF THE NEGOTIABLE INSTRUMENTS ACT
4. A NEGOTIABLE INSTRUMENT MEANS A PROMISSORY NOTE,BILL OF EXCHANGE OR CHEQUE PAYABLE EITHER TO ORDER OR TO THE BEARER
5. WE CAN SAY A NEGOTIABLE INSTRUMENT IS ONE WHICH WHEN TRANSFERRED BY DELIVER OR ENDORSEMENT AND DELIVERY PASSES TO THE TRANSFEREE A GOOD TITLE TO PAYMENT IRRESPECTIVE OF THE TITLE OF TRANSFEROR PROVIDED THE TRANSFEREE IS A BONA FIDE HOLDER FOR THE VALUE WITHOUT NOTICE OF ANY DEFECT IN THE TITLE OF THE TRANSFEROR