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Querist : Anonymous

Querist : Anonymous (Querist)

07 October 2010 What is the meaning of drawing a bill in a fictitious name?

Ajay Mishra

Ajay Mishra (Expert)
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07 October 2010 Hi

Drawing of bill in fictitious name means drawing/ issue of cheque to a name at present which is not in existence. In other words, issue of cheque in forged name.

Clause 42 of the Negotiable instruments deal that acceptance of bill drawn in fictitious name. It says an acceptance of bill of exchange drawn in the fictitious name and payable to the drawer's order is not, by reason that such name is fictitious , relived from liability to any holder, in due course claiming under an indorsement by the same hand as the drawer signature and purporting to the made by drawer.

Regards

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Querist : Anonymous

Querist : Anonymous (Querist)

07 October 2010 Thanks a lot sir

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