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Section 137 - Saving of negotiable instruments, etc : Transfer of Property Act, 1882

What is the provision regarding Saving of negotiable instruments, etc? Section 137 of Transfer of Property Act, 1882

 

Section 137 of Transfer of Property Act 1882 : "Saving of negotiable instruments, etc"

137 . Nothing in the foregoing sections of this Chapter applies to stocks, shares or debentures, or to instruments which are for the time being, by law or custom, negotiable, or to any mercantile document of title to goods.

 

 

Explanation.-The expression "mercantile document of title to goods" includes a bill of lading, dock-warrant, warehouse-keeper's certificate, railway-receipt, warrant or order for the delivery of goods, and any other document used in the ordinary course of business as proof of the possession or control of goods, or authorizing or purporting to authorize, either by endorsement or by delivery, the possessor of the document to transfer or receive goods thereby represented.

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