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of <h1>Holder's Choice: Ambiguous Instruments Under Section 17 of the Negotiable Instruments Act, 1881 Explained</h1> Section 17 of the Negotiable Instruments Act, 1881, addresses ambiguous instruments. It states that if an instrument can be interpreted as either a promissory note or a bill of exchange, the holder has the discretion to treat it as either. Once the holder makes this election, the instrument will be treated accordingly from that point forward.
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