Negotiable Instruments Act, 1881

Negotiable Instruments Act, 1881 is an act in India dating from the British colonial rule, that is still in force largely unchanged. ^[1]

7 relations: Cheque, Cheque truncation, Hundi, Imperial Legislative Council, Non-sufficient funds, Supreme Court of India, Traveler's cheque.

Cheque

A cheque, or check (American English; see spelling differences), is a document that orders a bank to pay a specific amount of money from a person's account to the person in whose name the cheque has been issued.

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Cheque truncation

Cheque truncation (check truncation in American English) is the conversion of a physical cheque into a substitute electronic form for transmission to the paying bank.

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Hundi

A Hundi is a financial instrument that developed in Medieval India for use in trade and credit transactions.

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Imperial Legislative Council

The Imperial Legislative Council was a legislature for British India from 1861 to 1947.

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Non-sufficient funds

Non-sufficient funds (NSF) is a term used in the banking industry to indicate that a cheque cannot be honored because insufficient funds are available in the account on which the instrument was drawn.

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Supreme Court of India

The Supreme Court of India is the highest judicial forum and final court of appeal under the Constitution of India, the highest constitutional court, with the power of constitutional review.

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Traveler's cheque

A traveler's cheque is a medium of exchange that can be used in place of hard currency.

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Negotiable Instruments Act.

References

[1] https://en.wikipedia.org/wiki/Negotiable_Instruments_Act,_1881

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