1An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques.
(1. The Act has been extended to Goa, Daman and Diu with modifications, by Reg. 12 of 1962, s. 3 and Sch., extended to and brought into force in Dadra and Nagar Haveli by Reg. 6 of 1963, s. 2 and Sch. I (w.e.f. 1-7-1965), to the Union territory of Lakshadweep by Reg. 8 of 1965, s. 3 and the Sch. (w.e.f. 1-10-1967) [and to the State of Arunachal Pradesh by Act 44 of 1993, s. 2 and the Sch. (w.e.f. 1-7-1994)].
Whereas it is expedient to define and amend the law relating to promissory notes, bills of exchange and cheques; It is hereby enacted as follows:—
This Act may be called the Negotiable Instruments Act, 1881.
It extends to the whole of India 2 *** but nothing herein contained affects the 3 Indian Paper Currency Act, 1871 (3 of 1871), section 21, or affects any local usage relating to any instrument in an oriental language:
Provided that such usages may be excluded by any words in the body of the instrument which indicate an intention that the legal relations of the parties thereto shall he governed by this Act;
(2. The words “except the State of Jammu and Kashmir”, which were subs. by Act 3 of 1951, for “except Part B States”, omitted by Act 62 of 1956, s. 2 and the Sch.)
(3. Rep. by the Indian Paper Currency Act, 1923 (10 of 1923). See now the Reserve Bank of India Act, 1934 (2 of 1934), s. 31.)
and it shall come into force on the first day of March, 1882.
Rep. by the Repealing and Amending Act, 1891(12 of 1891), s. 2 and the Schedule I.
In this Act—
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(4. Definition of the word “India”, which was subs. by Act 3 of 1951, for the definition of the word “State”, omitted by Act 62 of 1956, s. 2 and the Sch.
5 [“banker” includes any person acting as a banker and any post office savings bank;]
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(5. Subs. by Act 37 of 1955, s. 2, for the definition of the word “banker”.)
6. Omitted by Act 53 of 1952, s. 16 (w.e.f. 14-2-1956)
