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📚 Learn › Paper 2 — Corporate & Other Laws › Chapter

Negotiable Instruments Act 1881

Key provisions of the NI Act 1881 — promissory notes, bills of exchange, cheques, holder in due course, dishonour and Section 138. Frequently tested 4–6 mark questions.

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2 microlessons in this chapter
Read each in 5 minutes. Each has worked examples + the bare Act text for reference.
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All lessons

1
Section 4 — Promissory Note
Section 4 NI Act: What makes a promissory note valid? Key rules on unconditional promise, certain sum & payee — explained for CA Inter May 2
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2
Section 6 — Cheque
Section 6 NI Act 1881: Definition of cheque including truncated cheque and e-cheque explained for CA Inter May 2026 exam with examples.
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