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Section 14 - Negotiation, Section 15 - Endorsement : Negotiable Instruments Act 1881

 

 

What is Negotiation? What is Endorsement? Negotiation and Endorsement are defined under Section 14 and 15 of Negotiable Instruments Act 1881

Section 14 of Negotiable Instruments Act 1881: "Negotiation"

When a promissory note, bill of exchange or cheque is transferred to any person, so as to constitute the person the holder thereof, the instrument is said to be negotiated.

 

Section 15 of Negotiable Instruments Act 1881: "Endorsement"

When the maker or holder of a negotiable instrument signs the same, otherwise than as such maker, for the purpose of negotiation on the back or face thereof or on a slip of paper annexed thereto, or so signs for the same purpose a stamped paper intended to be completed as a negotiable instrument, he is said to endorse the same, and is called the "endorser".

 

Negotiable Instruments Act 1881

CHAPTER II NOTES, BILLS AND CHEQUES

Section 4 - Promissory Note

Section 5 - Bill of exchange

Section 6 - Cheque

Section 7 - Drawer, Drawee

 

 

Section 8 - Holder

Section 9 - Holder in Due Course

Section 10 - Payment in due Course

Section 11 - Inland Instrument

Section 12 - Foreign Instrument

 

 

Section 13 - Negotiable Instrument

Section 14 - Negotiation

Section 15 - Endorsement

Section 16 - Endorsement in blank and in full endorsee

 

 

Section 17 - Ambiguous instruments

Section 18 - Where amount is stated differently in figures and words

Section 19 - Instruments payable on demand

Section 20 - Inchoate stamped instruments

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