Section 99 - Noting, Section 100 - Protest : Negotiable Instruments Act 1881
What is Noting? What is Protest? Noting and Protest are defined under Section
99 and 100 of Negotiable
Instruments Act 1881
Section 99 of Negotiable Instruments Act 1881: "Noting"
When a promissory note or bill of exchange has
been dishonoured by non-acceptance or non-payment,
the holder may cause such dishonour to be noted by a
notary public upon the instrument, or upon a paper
attached thereto, or partly upon each.
Such note must be made within a reasonable time after
dishonour, and must specify the date of dishonour, the reason,
if any, assigned for such dishonour, or, if the instrument has
not been expressly dishonoured, the reason why the holder treats
it as dishonoured, and the notary's charges.
Section 100 of Negotiable Instruments Act 1881:
When a promissory note or bill of exchange has been
dishonoured by non- acceptance or non-payment, the holder may,
within a reasonable time, cause such dishonour to be noted and
certified by a notary public. Such certificate is called a
Protest for better security.
When the acceptor of a bill of exchange has become insolvent, or
his credit has been publicly impeached, before the maturity of
the bill, the holder may, within a reasonable time, cause a
notary public to demand better security of the acceptor, and on
its being refused may, with a reasonable time, cause such facts
to be noted and certified as aforesaid. Such certificate is
called a protest for better security.