NIA Section 44

Negotiable Instruments Act

US
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NIAChapter III

S. 44

Partial absence or failure of money consideration

Description

When the consideration for which a person signed a promissory note, bill of exchange or cheque consisted of money, and was originally absent in part or has subsequently failed in part, the sum which a holder standing in immediate relation with such signer is entitled to receive from him is proportionally reduced.

...More in Chapter III
By Raman Devgan
Updated: 31 Oct 2022
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