FIR Online, download legal format. IPC, CPC, CrPC, IP, NI, CP Act

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.

 

Home    About Us     Privacy Policy     Disclaimer      Sitemap