THE NEGOTIABLE INSTRUMENTS ACT

CHAPTER I

Preliminary

Section Page No.

1Short title, local extent, saving of usages relating to hundis, etc. Commencement

2Repeal of enactments (Repealed)

3Interpretation clause “Banker”

CHAPTER II

Of notes, bills and cheques

4″Promissory note”

5″Bill of Exchange”

6″Cheque”

7″Drawer”, “Drawee”, “Drawee in case of need”, “Acceptor”, “Acceptor for honour”, “Payee”

8″Holder”

9″Holder in due course”

10″Payment in due course”

11Inland instrument

12Foreign instrument

13Negotiable instrument

14Negotiation

15Indorsement

16Indorsement “in blank” and “in full”, “indorsee”

17Ambiguous instruments

18Where amount is stated differently in figures and words

19Instruments payable on demand

20Inchoate stamped instruments

21″At Sight”, “On Presentment”, “After Sight”

22″Maturity” Days of grace

Section Pa

23Calculating maturity of bill or note payable so many months after date or sight

24Calculating maturity of bill or note payable so many days after date or sight

25When day of maturity is a holiday

CHAPTER III

Parties to Notes, Bills and Cheques

26Capacity to make, etc., promissory notes, etc.

27Agency

28Liability of agent signing

29Liability of legal representative signing

30Liability of drawer

31Liability of drawee of cheque

32Liability of maker of note and acceptor of bill

33Only drawee can be acceptor except in need or for honour

34Acceptance by several drawees not partners

35Liability of indorser

36Liability of prior parties to holder in due course

37Maker, drawer and acceptor principals

38Prior party a principal in respect of each subsequent party

39Suretyship

40Discharge of indorser’s liability

41Acceptor bound although indorsement forged

42Acceptance of bill drawn in fictitious name

43Negotiable instrument made, etc., without consideration

44Partial absence or failure of money consideration

45Partial failure of consideration not consisting of money

45AHolder’s right to duplicate of lost bill

CHAPTER IV

Of Negotiation

46Delivery

47Negotiation by delivery

48Negotiation by indorsement

49Conversion of indorsement in blank into indorsement in full

50Effect of indorsement

51Who may negotiate

52Indorser who excludes his own liability or makes it conditional

53Holder deriving title from holder in due course

 

54Instrument indorsed in blank

55Conversion of indorsement in blank into indorsement in full

56Indorsement for part of sum due

57Legal representative cannot by delivery only negotiate instrument indorsed by deceased

58Instrument obtained by unlawful means or for unlawful consideration

59Instrument acquired after dishonour or when overdue, Accommodation note or bill

60Instrument negotiable till payment or satisfaction