Noting and Protest (Negotiable Instrument Act, 1881)

1) Noting -         According to Section 99 of the Negotiable Instrument Act, 1881 when a promissory note or bill of exchange has been dish...

Bill of exchange : Notice of Dishonor (Negotiable Instrument Act,1881)

1) Dishonor by non-acceptance (Section 91)          A bill of exchange is said to be dishonored by non-acceptance when the drawees, or one o...

What Is a "Negotiable instrument"?

Meaning and Definition of  "Negotiable instrument" -       According to section 13 of the negotiable instrument Act 1981, A “negot...

What is Hundi/Poorja in Business Law, Kinds of Hundies

What is Hundi/Poorja -     A  Hundi may be defined as a bill of exchange drawn in a vernacular language in accordance with the custom of...

What is bank Draft? What are the Characteristics of Bank Draft

Meaning and Definition of Bank Draft -          The Term 'Draft' has not been included in the definition of  Negotiable Instrumen...

Parties to Negotiable Instrument | Banking Law

Meaning and definition of Negotiable Instrument -       According to Black's dictionary of Law Negotiable instrument is written and...

Compensation on Dishonor | Banking Law

Compensation on Dishonor              Chapter XII Compensation, Section 117 of the Negotiable Instruments Act 1881 provides the followi...

What are Different types of a Cheque | Banking Law

What is cheque -               A cheque is an order to a bank to pay a stated sum from drawer's account, written on a specially pri...

Cheque : Meaning Definition and Essentials of Cheque

What is Cheque -         A cheque is an order to a bank to pay a stated sum from drawer's account, written on a specially printed fo...

Difference between Promissory Note and Cheque

No                                   Cheque               Promissory Note  1 Meaning of ...

Difference between Transferability and Negotiability

No                                Transferability                Negotiability 1 Transferab...

Negotiation: Meaning, Definition and Modes of negotiation

Meaning and Definition of Negotiation -          According to Section 14 of Negotiable Instrument Act 188 "When a promissory not...

Kinds / Types of Endorsement

What is Endorsement -             Endorsement means signing at the back of the instrument for the purpose of negotiation. The act of t...

What is Endorsement ? What are Essentials of Endorsement?

Meaning of Endorsement -             Endorsement means signing at the back of the instrument for the purpose of negotiation. The act...

Difference Between Cheque and Bill of Exchange | Law of Contract

What is Bill of Exchange?        Section 3(1) of the Bill of Exchange, Act 1882 defines - Bill of exchange is an unconditional order in w...