Lawzonline.com   Sign-in | Register
 
Home | Discussion Forum | Communities | Professional Search | Law Dictionary | Bare Acts | Law Schools | State Bare Acts | Free Judgement Search | Law quotes
Articles  |    Humor    |    Law Digest
 
 
Bare acts search

  Bookmark and Share
   
Bare acts > Negotiable Instruments Act, 1881 > Section 43
 
   


 

43. Negotiable instrument made, etc. without consideration.- A negotiable instrument made, drawn, accepted, endorsed, or transferred without consideration, or for a consideration which fails, creates no obligation of payment between the parties to the transaction. But if any such party has transferred the instrument with or without endorsement to a holder for a consideration, such holder, and every subsequent holder deriving title from him, may recover the amount due on such instrument from the transferor for consideration or any prior party thereto.


Exception I — No party for whose accommodation a negotiable instrument has been made, drawn, accepted or endorsed can, if he has paid the amount thereof, recover thereon such amount from any person who became a party to such instrument for his accommodation.


Exception II —No party to the instrument who has induced any other party to make draw, accept, endorse or transfer the same to him for a consideration which he has failed to pay or perform in full shall recover therein an amount exceeding the value of the consideration if any which he has actually paid or performed.

 

 

 

 

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

 

 

Quick Links          
           
Family Laws Insurance Laws Environmental law Tax Law FDI  
Company Law Telecommunication Law Labour Laws Central Rules RBI  
Business & Commercial Laws Consumer laws Corporate laws Criminal laws SEBI  
Intellectual Property law Media & Press laws Pharma & Medical laws Property law FEMA  
Debt Recovery Laws Amendments Professional law Banking Laws Legal Links  
           
           
 
 
  Partner Site
Adbeed.com India No 1 Business Directory and Classified Portal
Mybeed.com Your Online Library
 
 
 

 
   
 

 

 

Privacy PolicyDisclaimer | Link partners

Copyright @2010