Negotiable Instruments Act 1881

Major purpose of this assignment is to explain Negotiable Instruments Act 1881 in banking Law perspective. A cheque pertains to ‘a bill of exchange drawn with a specified banker and not expressed to get payable otherwise than in demand’. Thus, a cheque is a bill of exchange along with two added features: It will always be drawn on a particular banker; and it is always payable on demand but not otherwise. Here also discuss on Features of a Cheque, Types of Cheque, Bill of Exchange and Promissory Notes.