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<h1>Material Alteration Voids Negotiable Instrument Against Non-consenting Parties; Refer Sections 20, 49, 86, 125 of NI Act 1881.</h1> Any material alteration of a negotiable instrument voids it against parties who were involved at the time of the alteration and did not consent, unless the change aligns with the original parties' common intention. If an indorsee makes such an alteration, it releases the indorser from liability concerning the consideration. This section is subject to the provisions of sections 20, 49, 86, and 125 of the Negotiable Instruments Act, 1881.