Law of Negotiable Instruments Act 1881

Law of  Negotiable Instruments Act 1881 came into being as an Act to define and amend the law relating to promissory notes, bill of exchange and cheques. The chief object behind the Law of Negotiable Instruments Act 1881  was to legalize the system under which Negotiable Instruments pass from one hand to another in negotiations like ordinary goods which can be used as exchange. In India, mostly the English law is followed as the Law of Negotiable Instruments Act 1881…Read more