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Bare acts > Negotiable Instruments Act, 1881 > Section 45


45. Partial failure of consideration not consisting of money.- Where a part of the consideration for which a person signed a promissory note, bill of exchange or cheque, though not consisting of money, is ascertainable in money without collateral enquiry, and there has been a failure of that party, the sum which a holder standing in immediate relation with such signer is entitled to receive from him is proportionally reduced.





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