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Section 57 - Legal representative cannot by delivery only negotiate instrument indorsed by deceased, Section 58 - Instrument obtained by unlawful means or for unlawful consideration : Negotiable Instruments Act 1881

 

 

What is the meaning of Legal representative cannot by delivery only negotiate instrument indorsed by deceased? What is Instrument obtained by unlawful means or for unlawful consideration? Legal representative cannot by delivery only negotiate instrument indorsed by deceased and Instrument obtained by unlawful means or for unlawful consideration are defined under Section 57 and 58 of Negotiable Instruments Act 1881

Section 57 of Negotiable Instruments Act 1881: "Legal representative cannot by delivery only negotiate instrument indorsed by deceased"

The legal representative of a deceased person cannot negotiate by delivery only a promissory note, bill of exchange or cheque payable to order and indorsed by the deceased but not delivered.

 

Section 58 of Negotiable Instruments Act 1881: "Instrument obtained by unlawful means or for unlawful consideration"

When a negotiable instrument has been lost, or has been obtained from any maker, acceptor or holder thereof by means of an offence or fraud, or for an unlawful consideration, no possessor or indorsee who claims through the person who found or so obtained the instrument is entitled to receive the amount due thereon from such maker, acceptor or holder, or from any party prior to such holder, unless such possessor or indorsee is, or some person through whom he claims was, a holder thereof in due course.

 

Negotiable Instruments Act 1881

Section 41 - Acceptor bound, although, indorsement forged

Section 42 - Acceptance of bill drawn in fictitious name

Section 43 - Negotiable instrument made, etc., without consideration

Section 44 - Partial absence or failure of money-consideration

Section 45 - Partial failure of consideration not consisting of money

Section 45A - Holder's right to duplicate of lost bill

 

 

CHAPTER IV
OF NEGOTIATION

Section 46 - Delivery

Section 47 - Negotiation by delivery

Section - 48 Negotiation by indorsement

Section 49 - Conversion of indorsement in blank into indorsement in full

Section 50 - Effect of indorsement

 

 

Section 51 - Who may negotiate

Section 52 -Indorser who excludes his own liability or makes it conditional

Section 53 - Holder deriving title from holder in due course

Section 54 - Instrument indorsed in blank

Section 55 - Conversion of indorsement in blank into indorsement in full

Section 56 - Indorsement for part of sum due

 

 

Section 57 - Legal representative cannot by delivery only negotiate instrument indorsed by deceased

Section 58 - Instrument obtained by unlawful means or for unlawful consideration

Section 59 - Instrument acquired after dishonour or when overdue

Section 60 - Instrument negotiable till payment or satisfaction

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