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    NIL Section 1 and 52

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    samantha.tirthdas2758
    To be a negotiable instrument, a document must be in writing, signed, contain an unconditional promise to pay a fixed sum of money, be payable on demand or at a specific future time, and be payable to order or bearer. To be a holder in due course, one must hold an instrument that is complete and regular on its face, acquired it before maturity and without knowledge of any prior dishonor, acquired it in good faith and for value, and at the time of negotiation was unaware of any defects or issues with the document.

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    NIL Section 1 and 52

    Uploaded by

    samantha.tirthdas2758
    87 views1 page
    To be a negotiable instrument, a document must be in writing, signed, contain an unconditional promise to pay a fixed sum of money, be payable on demand or at a specific future time, and be payable to order or bearer. To be a holder in due course, one must hold an instrument that is complete and regular on its face, acquired it before maturity and without knowledge of any prior dishonor, acquired it in good faith and for value, and at the time of negotiation was unaware of any defects or issues with the document.

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    Negotiable Instruments Law section 1 and 52

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    To be a negotiable instrument, a document must be in writing, signed, contain an unconditional promise to pay a fixed sum of money, be payable on demand or at a specific future time, and be payable to order or bearer. To be a holder in due course, one must hold an instrument that is complete and regular on its face, acquired it before maturity and without knowledge of any prior dishonor, acquired it in good faith and for value, and at the time of negotiation was unaware of any defects or issues with the document.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    87 views1 page

    NIL Section 1 and 52

    Uploaded by

    samantha.tirthdas2758
    To be a negotiable instrument, a document must be in writing, signed, contain an unconditional promise to pay a fixed sum of money, be payable on demand or at a specific future time, and be payable to order or bearer. To be a holder in due course, one must hold an instrument that is complete and regular on its face, acquired it before maturity and without knowledge of any prior dishonor, acquired it in good faith and for value, and at the time of negotiation was unaware of any defects or issues with the document.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Section 1. Form of negotiable instruments.

    - An instrument to
    be negotiable must conform to the following requirements:
    (a) It must be in writing and signed by the maker or drawer;
    (b) Must contain an unconditional promise or order to pay a sum
    certain in money;
    (c) Must be payable on demand, or at a fixed or determinable
    future time;
    (d) Must be payable to order or to bearer; and
    (e) Where the instrument is addressed to a drawee, he must be
    named or otherwise indicated therein with reasonable certainty.

    Sec. 52. What constitutes a holder in due course. - A holder in


    due course is a holder who has taken the instrument under the
    following conditions:
    (a) That it is complete and regular upon its face;
    (b) That he became the holder of it before it was overdue, and
    without notice that it has been previously dishonored, if such was
    the fact;
    (c) That he took it in good faith and for value;
    (d) That at the time it was negotiated to him, he had no notice of
    any infirmity in the instrument or defect in the title of the person
    negotiating it.

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