An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques.
WHEREAS it is expedient to define and amend the law relating to, promissory notes, bills of exchange and cheques;
It is hereby enacted as follows:
Chapter I – Preliminary
Section 1 – Short title
This Act may be called the Negotiable Instruments Act, 1881.
Local extent. Saving of usages relating to hundis, etc. It extends to the whole of India but nothing herein contained affects the ‘Indian Paper Currency Act, 1871, (3 of 1871). section 21, or affects any local usage relating to any instrument in an oriental language:
Provided that such usages may be excluded by any words in the body of the instrument which indicate an intention that the legal relations of the parties thereto shall be governed by this Act and it shall come into force on the first day of March, 1882.
Section 2 – Commencement
[Repeal of enactments.]
Section 3 – Interpretation-clause
In this Act – “banker” includes any person acting as a banker and any post office savings bank;