negotiable instruments act

Rights and Privileges of Holder in Due Course

HOLDER IN DUE COURSE AND RIGHTS AND PRIVIELEGES PROVIDED TO HOLDER IN DUE COURSE UNDER NEGOTIABLE INSTRUMENTS ACT (INDIA) HOLDER IN DUE COURSE The phrase ˜Holder in Due Course™ shortens considerable the cumbrous English equivalent ˜bona fide holder for value without notice™; and both the Indian and English Acts have adopted this phrase. Sec. 9… Read More

Tags: Holder in due courseIndiaIndian Contract Act 1872Negotiable Instrumentnegotiable instruments actNegotiable Instruments Act 1881Promissory noteSupreme CourtSupreme Court of the United StatesUnited States

Successive cheque dishonours also permissible as long as it satisfies the requirements of Section 138 of the Negotiable Instruments Act

CLR Editorial Notes: In the matter of dishonor of cheques and cognizance taken by courts thereof, the Supreme Court has held that hold prosecution based upon second or successive dishonour of the cheque is also permissible so long as the same satisfies the requirements stipulated in the proviso to Section 138 of the Negotiable Instruments… Read More

Tags: Cheque Dishounournegotiable instruments act

Liability of Directors on Check Bounce under Section 138 Negotiable Instruments Act

Liability of Directors on Check Bounce under Section 138 Negotiable Instruments Act : Are all the Directors liable under Section 138 ?  What happens to the innocent Directors who were not aware of the cheque so issued ? What about the Directors who no more work with the Company as Directors. Hemanth deals with these… Read More

Tags: negotiable instruments actsection 138

Partners deemed guilty U/s 138 unless proven otherwise

When Directors of a Company or partners of a firm issue cheques which are dishonoured, it is presumed that they were responsible for issuing them unless they prove that they were not in charge of the daily affairs of the firm. They have to discharge the burden during the trial under the Negotiable Instruments Act,… Read More

Tags: negotiable instruments actsection 138

Corporate Law Referencer

Recent Articles

Recent Legal updates

Recent Gst Updates