TaxTMI Login
Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
of 
of 
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of of 
All Acts & Rules
of of All Acts & Rules
Note
Bookmark
Share
Don't have an account? Register Here
of <h1>Rights of Holder of Dishonored Negotiable Instruments Under Section 59: Limitations and Good Faith Exceptions</h1> Under Section 59 of the Negotiable Instruments Act, 1881, a holder who acquires a negotiable instrument after it has been dishonored, or after its maturity, possesses only the rights of the transferor against other parties. However, if a person, acting in good faith and for consideration, becomes the holder of a promissory note or bill of exchange made without consideration for raising funds, they may recover the amount from any prior party. An example illustrates that if a bill is not paid at maturity and the drawer sells collateral goods, the endorsee's title is subject to the same objections as the drawer's.
TaxTMI 
TaxTMI 
