Section 138 in The Negotiable Instruments Act, 1881 - Indian …
For the purposes of this section, “debt or other liability” means a legally enforceable debt or other liability.]
THE NEGOTIABLE INSTRUMENTS ACT, 1881 ACT NO. 26 OF 18811 [9th December, 1881.] An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques. Preamble.—Whereas it is expedient to define and amend the law relating to promissory notes, bills of exchange and cheques; It is hereby enacted as follows:— CHAPTER I
Section 138 of Negotiable Instruments Act, 1881
2 天之前 · The Negotiable Instruments Act, 1881, is a cornerstone of Indian financial legislation, governing negotiable instruments such as cheques, promissory notes, and bills of exchange. Among its various provisions, Section 138 stands out as a critical legal tool to address the dishonour of cheques. This section is pivotal in maintaining trust and accountability in cheque …
Nature of Section 138 of Negotiable Instruments Act, 1881
2021年6月21日 · Section 138 of the Act deals with the punishment for the dishonour of the cheque. The cheque is a negotiable instrument drawn on a specified banker and not expressed to be payable otherwise on demand.
Section 138 of NI Act, 1881: All you need to know about Cheque …
2023年3月11日 · A cheque bounce notice lays the foundation of a Court case under Section 138 of the Negotiable Instruments Act, 1881. Explore the rules, format, and frequently asked questions around the legal notice for cheque bounce.
Section 138 of Negotiable Instruments Act, 1881 - iPleaders
2024年8月19日 · Section 138 of the Negotiable Instruments Act of 1881 confers the benefit solely for the protection of the payee or holder in due course of a dishonoured cheque. This section plays a crucial role in ensuring the trustworthiness and reliability of transactions done through cheques in commercial and financial dealings.
CONDITIONS TO COMMIT THE OFFENCE UNDER SECTION 138 OF NI ACT 1881 Section 13 of the Negotiable Instrument Act states the definition of “Negotiable Instrument” which defines it as “a promissory note, bills of exchange or cheque payable either to order or to bearer”.
A Summary of Section 138 of Negotiable Instrument Act , 1881
2023年8月24日 · Section 138 of the Negotiable Instruments Act 1881 provides the legal recourse to handle things of cheque bounce. The main objective is to incentivize the trend of the use of cheques and to increase the credibility of cheques transactions by making the offence.
COMPLAINT UNDER SECTION 138 OF NEGOTIABLE INSTRUMENTS ACT…
2023年9月14日 · Section 138 provides a legal remedy to the aggrieved party, allowing them to seek redress and recover the due amount along with compensation. Additionally, Section 138 serves as a deterrent against issuing cheques without sufficient funds …
Section 138 of Negotiable Instrument Act: Meaning, …
2024年3月15日 · Section 138 of the Negotiable Instruments Act, of 1881, mandates that if a check bounces due to insufficient funds, the issuer can face criminal liability, leading to imprisonment or a fine. So what is the relevance of this section and how does it work?
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