Negotiable Instruments Act 1881

• Negotiable Instrument Act 1881

• Negotiable Instrument Act enacted by the parliament on 9th December 1881

• The Negotiable Instrument Act Came into force on 1 March 1882

• Upto 1988 the Act have 137 sections

• The Main types of Negotiable Instruments are;

          1 Inland Instruments 

          2 Foreign Instruments 

          3 Bank

          4 Finance companies Draft


Important sections in NI Act
Section 4 - Promissory note
              5 - Bill of exchange

              6 - Cheque
              8 - Holder
              9 - Holder in due course
            10 - Payment in due course
            15 - Endorsement