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Business Environment and Law-The Negotiable Instruments Act, 1881

Instruments Obtained For Unlawful Consideration- Negotiable Instruments Act, 1881

   Posted On :  08.05.2018 05:46 am

The most common species of forgery is fraudulently writing the name of an existing person. It is also a forgery to sign the name of a fictitious person or non-existing person. Even a man’s signature of his own name may amount to forgery, if it is put with the intention that the signature should pass for the signature of another person of the same name.

Instruments Obtained For Unlawful Consideration
 
 
  • The instrument is void.
 
  • A holder, in due course, however, obtains a good title to an instrument which was originally made or drawn or subsequently negotiated for an unlawful consideration.
 
Forged Instruments: The most common species of forgery is fraudulently writing the name of an existing person. It is also a forgery to sign the name of a fictitious person or non-existing person. Even a man’s signature of his own name may amount to forgery, if it is put with the intention that the signature should pass for the signature of another person of the same name.
 

Cheque

 
A cheque is the usual method of withdrawing money from an account with a banker. A cheque, in essence, is an order by the customer of the bank directing his banker to pay on demand, the specified amount, or to the order of the person named therein or to the bearer. Section 6 defines a cheque as “bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand.

 

 

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