Short Note On Promissory Note Under the Negotiable Instruments Act, 1881
Definition and Concept A promissory note is a written financial instrument where one party (the maker) commits to paying a […]
NEGOTIABLE INSTRUMENT ACT, 1881
The Negotiable Instruments Act, 1881 plays a crucial role in commercial and banking transactions, particularly in matters relating to cheques, promissory notes, and bills of exchange. For LLB students, this Act is especially important due to the frequent examination questions on cheque dishonour and related offences.
This category includes exam-oriented notes explaining negotiable instruments, their characteristics, parties involved, and statutory presumptions. Special focus is given to Section 138 and related provisions dealing with dishonour of cheques, along with essential procedural requirements and judicial interpretations.
The notes are structured to assist students in understanding both the civil and criminal aspects of the Act, making them suitable for semester exams and practical legal understanding.