The Negotiable Instruments Act
Federal Acts · Federal · 1881 · XXVI of 1881
Legal status
In force
Effective date
1881-12-09
Sections
170
Chapter II — Of Notes, Bills And Cheques
- 4: “Promissory note”
- 5: “Bill of exchange”
- 6: “Cheque”
- 7: “Drawer” “Drawee” “Drawee in case of need” “Acceptor” “Acceptor for honour” “Payee”
- 8: “Holder”
- 9: “Holder in due course”
- 10: “Payment in due course”
- 11: Inland instrument
- 12: Foreign instrument
- 13: “Negotiable instrument”
- 14: Negotiation
- 15: Indorsement
- 16: Indorsement “in blank” and “in full”
- 17: Ambiguous instruments
- 18: Where amount is stated differently in figures and words
- 19: Instruments payable on demand
- 20: Inchoate stamped instrument
- 21: “At sight” “On presentment” “After sight”
- 21A: When note or bill payable on demand is overdue
- 21B: A note or bill payable at a determinable future time
- 21C: Anti-dating and post-dating
- 22: “Maturity” Days of grace
- 23: Calculating maturity of bill or note payable so many months after date or sight
- 24: Calculating maturity of bill or note payable so many days after date or sight
- 25: When day of maturity is a holiday
Chapter III — Parties To Notes, Bill And Cheques
- 26: Capacity to make, etc., promissory notes, etc Minor
- 27: Agency
- 27A: Authority of partners
- 28: Liability of agent signing
- 28A: Transferor by delivery and transferee
- 29: Liability of legal representative signing
- 29A: Signature essential to liability
- 29B: Forged or un authorized signature
- 29C: Stranger signing instrument presumed to be indorser
- 30: Liability of drawer
- 31: Liability of drawee of cheque
- 32: Liability of maker of note and acceptor of bill
- 33: Only drawee can be acceptor except in need or for honour
- 34: Acceptance by several drawees not partners
- 35: Liability of indorser
- 36: Liability of prior parties to holder in due course
- 37: Maker, drawer and acceptor principals
- 38: Prior party a principal in respect on each subsequent party
- 38A: Liability of accommodation party and position of accommodation party
- 39: Suretyship
- 40: Discharge of indorser’s liability
- 41: Acceptor bound although indorsement forged
- 42: Acceptance of bill drawn in fictitious name
- 43: Negotiable instrument made, etc., without consideration
- 44: Partial absence or failure of money consideration
- 45: Partial failure of consideration not consisting of money
- 45A: Holder’s right to duplicate of lost bill
Chapter IV — Of Negotiation
- 46: Delivery
- 47: Negotiation by delivery
- 48: Negotiation by indorsement
- 49: Conversion of indorsement in blank into indorsement in full
- 50: Effect of indorsement
- 51: Who may negotiate
- 52: Indorser who excludes his own liability or makes it conditional
- 53: Holder claiming through holder in due course
- 53A: Rights of holder in due course
- 54: Instrument indorsed in blank
- 55: Conversion of indorsement in blank into indorsement in full
- 56: Requisites of indorsement
- 57: Legal representative cannot by delivery only negotiate instrument indorsed by deceased
- 57A: Negotiation of instrument to party already liable thereon
- 57B: Rigts of holder
- 58: Defective title
- 59: Instrument acquired after dishonour or when overdue Accommodation note or bill
- 60: Instrument negotiable till payment or satisfaction
Chapter IX — Of Noting And Protest
Chapter V — Of Presentment
- 61: Presentment or acceptance
- 62: Presentment of promissory note for sight
- 63: Drawee’s time for deliberation
- 64: Presentment for payment
- 65: Hours for presentment
- 66: Presentment for payment of instrument payable after date or sight
- 67: Presentment for payment of promissory note payable by instalments
- 68: Presentment for payment of instrument payable at specified place and not elsewhere
- 69: Instrument payable at specified place
- 70: Presentment where no exclusive place specified
- 71: Presentment when maker, etc., has no known place of business or residence
- 71A: What constitutes valid presentment and mode of presentment
- 72: Presentment of cheque to charge drawer
- 73: Presentment of cheque to charge any other person
- 74: Presentment of instrument payable on demand
- 75: Presentment by or to agent, representative of deceased, or assignee of insolvent
- 75A: Excuse for delay in presentment for acceptance or payment
- 76: When presentment unnecessary
- 77: Liability of banker for negligently dealing with bill presented for payment
Chapter VI — Of Payment And Interest
Chapter VII — Of Discharge From Liablility On Notes, Bills And Cheques
- 82: Discharge from liability
- 83: Discharge by allowing drawee more than forty-eight hours to accept
- 84: When cheque not duly presented and drawer damaged thereby
- 85: Cheque payable to order
- 85A: Drafts drawn by one branch of a bank on another payable to order
- 86: Parties not consenting discharged by qualified or limited acceptance
- 87: Effect of material alteration Alteration by indorsee
- 88: Acceptor or indorser bound notwithstanding previous alteration
- 89: Payment of instrument on which alteration is not apparent
- 90: Extinguishment of rights of action on bill in acceptor’s hands
Chapter VIII — Of Notice Of Dishonour
- 91: Dishonour by non-acceptance
- 92: Dishonour by non-payment
- 93: By and to whom notice should be given
- 94: Mode in which notice may be given
- 95: Party receiving must transmit notice of dishonour
- 96: Agent for presentment
- 97: When party to whom notice given is dead
- 98: When notice of dishonour is unnecessary
Chapter X — Of Reasonable Time
Chapter XI — Of Acceptance And Payment For Honour And Reference In Case Of Need
- 108: Acceptance for honour
- 109: How acceptance for honour must be made
- 110: Acceptance not specifying for whose honour it is made
- 111: Liability of acceptor for honour
- 112: When acceptor for honour may be charged
- 113: Payment for honour
- 114: Right of payer for honour
- 115: Drawee in case of need
- 116: Acceptance and payment without protest
Chapter XII — Of Compensation
Chapter XIII — Special Rules Of Evidence
Chapter XIV — Special Provisions Realating To Cheques
- 122A: Revocation of Banker’s authority
- 123: Cheque crossed generally
- 123A: Cheque crossed “account payee”
- 124: Cheque crossed specially
- 125: Crossing after issue
- 125A: Crossing a material part of a cheque
- 126: Payment of cheque crossed generally Payment of cheque crossed specially
- 127: Payment of cheque crossed specially more than once
- 128: Payment in due course of crossed cheque
- 129: Payment of crossed cheque out of due course
- 130: Cheque bearing “not negotiable”
- 131: Non-liability of banker receiving payment of cheque
- 131A: Application of chapter to drafts
- 131B: Protection to banker crediting cheque crossed “account payee”
- 131C: Cheque not operating as assignment of funds
Chapter XV — Special Provisions Relating To Bills Of Exchange
- 131D: Several drawees
- 131E: In whose favour a bill may be drawn
- 131F: When presentment for acceptance is necessary l31G. When presentment excused
- 131H: Holder’s right of recourse against drawer and indorsers
- 131I: Holder may refuse qualified acceptance
- 132: Set of bills
- 133: Holder of first acquired part entitled to all
Chapter XVI — Of International Law
Chapter XVII — Notaries Public
Preliminary
Schedule
- Schedule: The Schedule [Repealed](repealed)
Legal information only. Verify current law and obtain advice from a qualified lawyer for your circumstances.