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Report No. 11

21. Negotiable instrument when complete.-

(1) The making, acceptance or indorsement of an instrument is completed by delivery.

[Section 46, para. 11

(2) 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.

[Section 46, para. 21

(3) 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.

[Section 46, para. 31

Negotiable Instruments Act, 1881 Back

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