Law regarding Material Alteration Section 87 of the Negotiable Instrument act clearly states that any material alteration of a negotiable instrument renders the same void as against anyone
What is Material alteration? The term ‘material alteration‘ indicates alteration or change in the material parts of the instrument. It may be defined as any change, which alters
What are Hundis? An age-old tradition of business transactions, peculiar to India, Hundis are negotiable instruments written in various vernacular local languages in the country. The term is
Discharge of a Negotiable Instruments When the liability of the party, primarily and ultimately liable on the instrument, comes to an end, the instrument is said to be
The bill of exchange can be classified on the basis of Place, Purpose, Documents, Parties, and; Time. Classification of Bills of Exchange 1. On the basis of place,
Bills of exchange is used primarily in International trade, and is a written order by one person to pay another a specific sum on a specific date sometime
When is a bill considered accepted? The acceptance of a bill is the indication of courtesy extended by the drawee or his/her agent towards the order of the