Section 101 - Contents of protest, Section 102 - Notice of protest : Negotiable Instruments Act 1881

What is Contents of protest? What is Notice of protest? Contents of protest and Notice of protest are defined under Section 101 and 102 of Negotiable Instruments Act 1881

Section 101 of Negotiable Instruments Act 1881: "Contents of protest"

A protest under section 100 must contain-

(a) either the instrument itself, or a literal transcript of the instrument and of everything written or printed thereupon;

(b) the name of the person for whom and against whom the instrument has been protested;

(c) a statement that payment or acceptance, or better security, as the case may be, has been demanded of such person by the notary public; the terms of his answer, if any, or a statement that he gave no answer or that he could not be found;

(d) when the note or bill has been dishonoured, the place and time of dishonour, and, when better security has been refused, the place and time of refusal;

(e) the subscription of the notary public making the protest;

(f) in the event of an acceptance for honour or of a payment for honour, the name of the person by whom, of the person for whom, and the manner in which, such acceptance or payment was offered and effected.

A notary public may make the demand mentioned in clause (c) of this section either in person or by his clerk or, where authorized by agreement or usage, by registered letter.

Section 102 of Negotiable Instruments Act 1881: "Notice of protest"

When a promissory note or bill of exchange is required by law to be protested, notice of such protest must be given instead of notice of dishonour, in the same manner and subject to the same conditions; but the notice may be given by the notary public who makes the protest.