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Section 46: Delivery.

The Negotiable Instruments Act, 1881Central Act · Act 26 of 1881

The making, acceptance or indorsement of a promissory note, bill of exchange or cheque is completed by delivery, actual or constructive.

As between parties standing in immediate relation, delivery to be effectual must be made by the party making, accepting or indorsing the instrument, or by a person authorised by him in that behalf.

As between such parties and any holder of the instrument other than a holder in due course, it may be shown that the instrument was delivered conditionally or for a special purpose only, and not for the purpose of transferring absolutely the property therein.

A promissory note, bill of exchange or cheque payable to bearer is negotiable by the delivery thereof.

A promissory note, bill of exchange or cheque payable to order is negotiable by the holder by indorsement and delivery thereof.

Where this provision sits

ActThe Negotiable Instruments Act, 1881
Section46
Marginal noteDelivery.
JurisdictionCentral
StatusIn force as published by the source
Judgments citing it1

Judgments that turned on this provision

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