Commercial-law

The demand notice under Section 138 NI Act is the foundation for cheque dishonour proceedings. It creates cause of action, must be sent within 30 days of dishonour information, and gives the drawer 15 days to make payment. Proof of service is vital for sustaining prosecution. This section provides statutory requirements, best practices, and a model draft notice.

The Negotiable Instruments Act, 1881, governs promissory notes, bills of exchange, and cheques in India. It provides definitions, characteristics, rules regarding liabilities of parties, endorsements, presumptions, and penalties for dishonour of cheques. The Act plays a vital role in facilitating commercial transactions and ensuring financial credibility. These notes cover detailed explanations along with exam-oriented key points, important sections, and landmark cases.

The Negotiable Instruments Act, 1881, governs promissory notes, bills of exchange, and cheques in India. It provides definitions, characteristics, rules regarding liabilities of parties, endorsements, presumptions, and penalties for dishonour of cheques. The Act plays a vital role in facilitating commercial transactions and ensuring financial credibility. These notes cover detailed explanations along with exam-oriented key points, important sections, and landmark cases.