A cheque and a demand draft are two common financial instruments used in the banking system for transferring money. Both serve as means of payment but differ in...
A Demand Draft (DD) is a prepaid negotiable financial instrument issued by a bank that directs another branch or bank to pay a specified sum of money to...
The Cheque Truncation System (CTS) is an electronic image-based clearing mechanism introduced by the Reserve Bank of India (RBI) to enhance the efficiency, speed, and security of cheque...
A person who signs the cheque and transfers the instrument is an endorser and in whose favor it is transferred is endorsee. The endorsee acquires a right to...
Endorsement conditions refer to the specific terms, clauses, or stipulations added to an insurance policy, contract, or financial instrument that modify, clarify, or extend its original provisions. In...
A Bill of Exchange is a written, unconditional order by one party directing another to pay a specific sum of money to a designated person or bearer on...
A Promissory Note is a financial instrument that contains a written, unconditional promise by one party (the maker) to pay a definite sum of money to another party...
The term Holder and Holder in Due Course are related to Negotiable Instruments. Holder Holder is the person who is entitled in his own name to the possession...
The Negotiable Instruments Act, 1881, is a landmark legislation in Indian commercial law that governs the use, recognition, and enforcement of negotiable instruments such as promissory notes, bills...
