negotiable instrument

Aashish Chandak (Article Assistant) (37 Points)

05 June 2010  

Dear friends,

As per sec 26 of the Neg Ins. Act,1881,a  minor can draw ,deliver,endorse and negotiate negotiable instrument but cannot be held liable for dishonour of the instrument.

Eg... M draws a cheque in favour of  N, a minor. N endorses it to F. The instrument gets dishonoured. Rights of Mr.F?

Here.... P can proceed against Mr. M but not against N (minor).

Master Stroke:- Mr. Thomas Edison Failed 17,000 times in his experiment to invent bulb.