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Report No. 11

143. Section 87.-

We have redrafted section 87 in the light of section 64(1) of the Bills of Exchange Act, which is more comprehensive. The proviso, which has been added, is based on the decision in Gourochandra v. Krushnacharana, AIR 1941 Mad 383 (385) which applied the principle laid down by the Privy Council in Hongkong and Shanghai Banking Corporation v. Lo Lee Shi, 1928 AC 181 which was a case of a material alteration resulting from an accident, to the case of a material alteration "made by a meddlesome or maliciously minded stranger without the consent of the holder of the instrument and without any fraud or negligence on his part". The second part of the Proviso retains the existing provision that an alteration made to carry out the common intention of parties should not affect the liability.



Negotiable Instruments Act, 1881 Back




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