Negotiable instrument act 1881
This query is : Resolved
mohit rathi
(Querist)
01 April 2015
M, who finds a cheque payable to bearer, on road and retains it.
can M be called as "holder" under Negotiable Instrument Act
give reason also
01 April 2015
yes if the cheque is not crossed or a/c payee and the words or bearer is not cancelled then m is holdder of cheue.
Trilok Lalwani
(Expert)
01 April 2015
No.
M cannot be called as ‘Holder’ . As per Section 8 of N I Act 1881, Holder of Negotiable Instrument means any person entitled in his own name to the possession of it, and to receive or recover the amount due thereon. Here in instant case M is not entitled in his own name to hold this instrument as he found the same from the roadside, and as such can not enforce the payment.
M cannot be called as ‘Holder’ . As per Section 8 of N I Act 1881, Holder of Negotiable Instrument means any person entitled in his own name to the possession of it, and to receive or recover the amount due thereon. Here in instant case M is not entitled in his own name to hold this instrument as he found the same from the roadside, and as such can not enforce the payment.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- WRONG GSTR7 ENTRIES ACCEPTED ERRONEOUSLY
- Tax on Amount transferred in HUF Account
- Nursery business
- GST input credit on commercial property
- GST REFUND ISSUE ON PURCHASE OF PLANT AND MACHINERY
- Working on Gold wastage during Melting of old gold jewellery
- TDS on Dashcam rent and allied services
- Capital gains in IT returns
- ETDS return q4 25-26
- Import Order Cancelled.
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
