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NEGOTIABLE INSTRUMENTS ACT, 1881

Part I - Introduction
(Part I of VI)

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THE NEGOTIABLE INSTRUMENTS ACT, 1881

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1. NEGOTIABLE INSTRUMENT (6):


1.1. Promissory Note
1.2. Essential Ingredients of a Valid Promissory Note
1.3. Bill of Exchange
1.4. Essential Requirements of a Valid Bill of Exchange
1.5. Parties to a Bill of Exchange
1.6. Cheque

2. AMBIGUOUS INSTRUMENTS
3. ENDORSEMENT (4)
3.1. Persons who can Endorse
3.2. Effect of endorsement
3.3. Kinds of endorsements
3.4. Liabilities of endorser
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4. PRESENTMENT (4)
4.1. Presentment for Acceptance
4.2. Presentment for Payment
4.3. Time of Presentment
4.4. Place of Presentment

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5. CROSSED CHEQUES (SECTIONS 123-130) - (8)


5.1. Crossed Cheques (Section 123)
5.2. Payment of cheque cross generally (Section 126)
5.3. Cheque Crossed Specially (Section 124)
5.4. Payment of Cheque Crossed Specially (Section 126)
5.5. Payment of Cheque Crossed Specially more than
One (Section 127)
5.6. Payment in due course of Crossed Cheque (Section
128)
5.7. Payment of crossed cheques out of due course
(Section 129)
5.8. Cheque bearing 'not negotiable' (Section 130)
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6. DISHONOUR OF CHEQUE, LIABILITY OF DRAWER


7. PRESUMPTIONS AS TO NEGOTIABLE INSTRUMENTS
8. NOTICE OF DISHONOUR (5)
8.1. Notice must be given within reasonable time
8.2. Mode of giving Notice
8.3. When notice of dishonour is not necessary
8.4. Liability of a Company under Section 138
8.5. Cognizance of Offences under the Negotiable
Instruments Act

9. EVIDENCES AND OFFENCES (3):


9.1. bank's slip as evidence in court
9.2. cognizance of case for offence of dishonour of cheque
under section 147
9.3. offences under negotiable instrument act are
compoundable .
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End of Part I of VI
Negotiable Instrument Act
Part I

Introduction

Part II

Topics 1 to 3

Part III

Topics 4 to 6

Part IV

Topics 6 to 9

Part V

Key Points 1

Part VI

Key Points 2 & Important Sections.

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We will catch you in the next lesson

Reenat Edu Team


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1. NEGOTIABLE INSTRUMENT:
1. NEGOTIABLE INSTRUMENT:

1.1. Promissory Note


1.2. Essential Ingredients of a Valid Promissory
Note
1.3. Bill of Exchange
1.4. Essential Requirements of a Valid Bill of
Exchange
1.5. Parties to a Bill of Exchange

1.6. Cheque

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Copyright @ Reenat Edu - Content Prepared for Academic Purposes only.

Copyright @ Reenat Edu - Content Prepared for Academic Purposes only.

Copyright @ Reenat Edu - Content Prepared for Academic Purposes only.

Copyright @ Reenat Edu - Content Prepared for Academic Purposes only.

Copyright @ Reenat Edu - Content Prepared for Academic Purposes only.

Main Stream 9 Topics under NI ACT


1. NEGOTIABLE INSTRUMENT: - (6 sub-topics)
2. AMBIGUOUS INSTRUMENTS

3. ENDORSEMENT ( 4 sub topics)


4. PRESENTMENT (4 Sub Topics)
5. CROSSED CHEQUES (SECTIONS 123-130) - (8 Sub topics)
6. DISHONOUR OF CHEQUE, LIABILITY OF DRAWER
7. PRESUMPTIONS AS TO NEGOTIABLE INSTRUMENTS
8. NOTICE OF DISHONOUR 9 (5 Sub Topics)
9. EVIDENCES AND OFFENCES (3 Sub Topics)

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Main Stream 9 Topics under NI ACT


1. NEGOTIABLE INSTRUMENT: - (6 sub-topics)
2. AMBIGUOUS INSTRUMENTS

3. ENDORSEMENT ( 4 sub topics)


4. PRESENTMENT (4 Sub Topics)
5. CROSSED CHEQUES (SECTIONS 123-130) - (8 Sub topics)
6. DISHONOUR OF CHEQUE, LIABILITY OF DRAWER
7. PRESUMPTIONS AS TO NEGOTIABLE INSTRUMENTS
8. NOTICE OF DISHONOUR 9 (5 Sub Topics)
9. EVIDENCES AND OFFENCES (3 Sub Topics)

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1. NEGOTIABLE INSTRUMENT:
1.1. Promissory Note

1.2. Essential Ingredients of a Valid Promissory Note

1.3. Bill of Exchange

1.4. Essential Requirements of a Valid Bill of Exchange

1.5. Parties to a Bill of Exchange

1.6. Cheque

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2. AMBIGUOUS INSTRUMENTS
AMBIGUOUS INSTRUMENTS: As per the section 17
Where an instrument may be construed either as a
promissory note or bill of exchange, the holder
may at his election treat it as either and the
instrument shall be thenceforward treated
accordingly..

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3. ENDORSEMENT

3.1. Persons who can Endorse


3.2. Effect of endorsement
3.3. Kinds of endorsements
3.4. Liabilities of endorser
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4. PRESENTMENT

4.1.
Presentment
for
Acceptance

4.2.
Presentment
for Payment

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4.3. Time of
Presentment

4.4. Place of
Presentment

5. CROSSED CHEQUES (SECTIONS 123-130)


5.1. Crossed Cheques (Section 123)

5.2. Payment of cheque cross generally (Section 126)

5.3. Cheque Crossed Specially (Section 124)

5.4. Payment of Cheque Crossed Specially (Section 126)

5.5. Payment of Cheque Crossed Specially more than One (Section 127)

5.6. Payment in due course of Crossed Cheque (Section 128)

5.7. Payment of crossed cheques out of due course (Section 129)

5.8. Cheque bearing 'not negotiable' (Section 130)

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DISHONOUR OF CHEQUE
Section 138 of the Negotiable Instruments Act as
amended by Act 55 of 2002 w.e.f. 6 February, 2003

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7.0. PRESUMPTIONS AS TO NEGOTIABLE INSTRUMENTS:

Sections 118 and 119 lays down certain


presumptions as to negotiable instruments. There
are 8 notable presumptions are nested under this
topic

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8. NOTICE OF DISHONOUR

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9. EVIDENCES AND OFFENCES


9.1. bank's slip as evidence in court

9.2. cognizance of case for offence


of dishonour of cheque under
section 147
9.3. offences under negotiable
instrument act are compoundable

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Explanation in Three Parts


PART I
1. Negotiable instrument:
2. Ambiguous instruments
3. Endorsement
PART II
4. Presentment
5. Crossed cheques (sections 123-130)
6. Dishonour of cheque, liability of drawer

Part III
7. Presumptions as to negotiable instruments
8. Notice of dishonour
9. Evidences and offences
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