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5 Cards in this Set
- Front
- Back
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Section1 |
Short title Extent- Entire India Commencement- March 1,1882 Non applicability- Currency (As there is separate currency act,1871 and HUNDI as per local laws and customs But parties may agree to be governed by NIA 1881 |
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Section 13 |
Definition NEGOTIABLE INSTRUMENT MEANS:-a) Promissory note b) Bills of exchange c) Cheque payable to bearer or order |
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Negotiable instruments act Definition |
(Section 13) NEGOTIABLE INSTRUMENT MEANS:- a) Promissory note b) Bills of exchange c) Cheque payable to bearer or order |
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Meaning of negotiable instruments (in own words) |
Negotiable means legally transferrable value/property Instrument means document in writing |
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Parties involved in a negotiable instrument |
2 Transferer and Transferee Transferee to get value if there is consideration between parties *Regardless of defect in title provided transferee acts in good faith*[Bonafide] S354 uppal south end, Sohna road |
