Negotiable Instruments Act In Marathi
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FAQ
Examples of negotiable instruments include bank checks, promissory notes, certificates of deposit, and bills of exchange.
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An instrument to be negotiable must conform to the following requirements: (1) It must be in writing and signed by the maker or drawer; (2) Must contain an unconditional promise or order to pay a sum certain in money; (3) Must be payable on demand, or at a fixed or determinable future time; (4) Must be payable to order ...
Common examples of negotiable instruments include personal checks, cashier's checks, money orders, certificates of deposit (CDs), promissory notes, and traveler's checks. The person receiving the payment, known as the payee, must be named or otherwise indicated on the instrument.
Negotiable instruments are transferable by nature: A negotiable instrument may be freely transferred as many times as necessary until it reaches maturity. Delivering the instrument is sufficient if it is ?payable to the bearer.? However, if it is ?payable to order,? it is accepted upon delivery and endorsement.