Just a moment...
Press 'Enter' to add multiple search terms. Rules for Better Search
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
Don't have an account? Register Here
<h1>Section 89: Liability Discharge for Payment of Altered Negotiable Instruments, Ensuring Bank Accuracy in Truncated Cheque Handling.</h1> Section 89 of the Negotiable Instruments Act, 1881, addresses the payment of promissory notes, bills of exchange, or cheques that have been materially altered but do not visibly appear altered. If such an instrument is paid according to its apparent tenor at the time of payment, the payer, whether an individual or banker, is discharged from liability, and the payment cannot be questioned due to alteration. Additionally, for electronic images of truncated cheques, any discrepancy in the apparent tenor is considered a material alteration, and banks or clearing houses must ensure accuracy during truncation and transmission.