NEGOTIABLE INSTRUMENTS ACT
Instruments Act, 1881 is an act in India dating from the British colonial rule, that is still in force largely unchanged.
The Act was originally drafted in 1866 by the 3rd India Law Commission and introduced in December, 1867 in the Council and it was referred to a Select Committee.
Meaning and Definition
A Negotiable Instrument means a promissory note, bill of exchange or cheque payable either to order or to bearer.
