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Section 26 - Capacity to make, etc., the promissory notes, etc : Negotiable Instruments Act 1881

 

 

Who have the Capacity to make, etc., the promissory notes, etc? Capacity to make, etc., the promissory notes, etc is defined under Section 26 of Negotiable Instruments Act 1881

Section 26 of Negotiable Instruments Act 1881: "Capacity to make, etc., the promissory notes, etc"

Every person capable of contracting, according to the law to which he is subject, may bind himself and be bound by the making, drawing, acceptance, indorsement, delivery and negotiation of a promissory note, bill of exchange or cheque.

Minor
A minor may draw, indorse, deliver and negotiate such instruments so as to bind all parties except himself.

 

Nothing herein contained shall be deemed to empower a corporation to make, indorse or accept such instruments except in cases in which, under the law for the time being in force, they are so empowered.

 

Negotiable Instruments Act 1881

Section 21 - At sight, On presentment, After sight

Section 22 - Maturity

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

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

Section 25 - When day of maturity is a holiday

 

 

CHAPTER III
PARTIES TO NOTES, BILLS AND CHEQUES

Section 26 - Capacity to make, etc., the promissory notes, etc

Section 27 - Agency

Section 28 - Liability of agent signing

Section 29 - Liability of legal representative signing

Section 30 - Liability of drawer

 

 

Section 31 - Liability of drawee of cheque

Section 32 - Liability of maker of note and acceptor of bill

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

Section 34 - Acceptance by several drawees not partners

Section 35 - Liability of indorser

Section 36 - Liability of prior parties to holder in due course

 

 

Section 37 - Maker, drawer and acceptor principals

Section 38 - Prior party a principal in respect of each subsequent party

Section 39 - Suretyship

Section 40 - Discharge of indorser's liability : Negotiable Instruments Act 1881

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