Negotiable Instrument: Unit 3 Ms - Shruti Minocha
Negotiable Instrument: Unit 3 Ms - Shruti Minocha
Negotiable Instrument: Unit 3 Ms - Shruti Minocha
Ms.Shruti Minocha
NEGOTIABLE INSTRUMENT
NEGOTIABLE INSTRUMENT
9)Other formalities
must be properly stamped as required by the
Indian stamp act.
An unstamped or inadequately stamped
promissory note is invalid.
BILLS OF EXCHANGE
A bill of exchange is an instrument in writing containing
an unconditional order, signed by maker, directing a
certain person to pay a certain sum of money only to or
to the order of, certain person or to the bearer of the
instrument
2. Crossed cheque
OPEN OR AN UNCROSSED CHEQUE
Open Cheque
An open cheque is a cheque which is payable at
the counter of the drawee bank on
presentation of the cheque.
CROSSED CHEQUE
Types of Crossing
General Crossing
Special Crossing