14
The Negotiable Instrument Act 1881
Learning Objectives
In this chapter, the students come to know
Negotiable instruments like promissory note, bill of exchange and cheque.
Types of negotiable instrument.
Maturity period of negotiable instrument.
Negotiation, assignment of instrument.
Crossing of cheque.
Dishonour of instrument.
Noting and protesting
Hundi
14.1 INTRODUCTION TO NEGOTIABLE INSTRUMENTS
In India, there is a reason to believe that instruments to exchange were in use from early times and we find that papers representing money were introduced into the country, by one of the Mohammedan sovereigns of Delhi in the early part of the fourteenth century.
The word ‘hundi’, a generic term used to denote instruments of exchange in vernacular ...
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