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Rules of Compensation

Rules of Compensation : Under Section 117 of the Act, the compensation payable in case of dishonour of a promissory note, bill of exchange, or cheque, by any party liable to […]

Different Types of Hundis

Different Types of Hundis : The most common types of hundis are the following: (i) Shah Jog Hundi:- In this case, apart from a drawer and a drawee, there is […]

International Law regarding Negotiable Instrument

International Law regarding Negotiable Instrument : In the absence of a contract to the contrary (i.e., unless the parties otherwise agree), the liability of the maker or drawer of a foreign […]

Payment and Interest

Payment and Interest : (a) To whom payment should be made (Section 78): Payment of the amount due on a promissory note, bill of exchange or cheque must, in order to […]

Presentment of Instruments

Presentment of Instruments : (a) Presentment of bills for acceptance (Section 61): A bill of exchange is not necessarily required to be presented for acceptance, before its being presented for payment. […]

Noting and Protesting

Noting and Protesting : (a) Noting: It is a convenient mode of authenticating the fact that a bill or note has been dishonoured. When a note or a bill has been […]

Notice of Dishonour

Notice of Dishonour : (a) Dishonour by non-acceptance (Section 91): A bill may be dishonoured either by nonacceptance or by non-payment. A dishonour by non-acceptance may take place in any one […]

Different Provisions relating to Negotiation

Different Provisions relating to Negotiation : (a) Negotiation Back: An instrument is said to have been negotiated back to him and he is said to have taken up or taken back […]