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Negotiable Instruments Act, 1881
Complete Guidelines for Handling Check Return (Section 138) Cases.
The Negotiable Instruments Act, 1881 is a crucial piece of legislation in India that governs promissory notes, bills of exchange, and cheques. Its primary objective is to facilitate commercial transactions by ensuring the legality and easy transferability of these instruments. In modern legal practice, Section 138 of this Act is most frequently invoked, dealing with the criminal liability of a person whose cheque is dishonoured due to insufficient funds. The law aims to instill trust in banking operations and ensure that the drawer of a cheque fulfills their financial obligation.
Become an expert in property law
Complete information on Transfer of Property Act, Registration Act and Stamp Act.