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Section 17 - Ambiguous instruments, Section 18 - Where amount is stated differently in figures and words : Negotiable Instruments Act 1881

 

 

What is Ambiguous Instruments? Which amount is taken where amount is stated differently in figures and words? Ambiguous Instruments and where amount is stated differently in figures and words are defined under Section 17 and 18 of Negotiable Instruments Act 1881

Section 17 of Negotiable Instruments Act 1881: "Ambiguous instruments"

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.

 

Section 18 of Negotiable Instruments Act 1881: "Where amount is stated differently in figures and words"

If the amount undertaken or ordered to be paid is stated differently in figures and in words, the amount stated in words shall be the amount undertaken or ordered to be paid.

 

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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