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Negotiable instruments act, 1881

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(Querist)
03 March 2013 Hello

One of the essential characteristic of a Negotiable Instrument is that it must be payable to either order or bearer. Could you please explain me the meaning of "order" and "bearer"?

Thank You
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Rajnish Singh

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Rajnish Singh (Expert)
04 March 2013 WHERE IS TERM ORDER MEANS "THE PERSON DIRECTED BY WRITER OF INSTRUMENTS".

AND BEARER MENAS " THE PERSON WHO CARRIES THE INSTRUMENT AT THE TIME OF PAYMENT.

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