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The Negotiable Instruments Act of 1881 is important legislation in India. It handles negotiable instruments like promissory notes, cheques, and bills of exchange. It defines the rights and obligations of parties involved in these instruments. It also provides a legal framework for their use and enforcement. The Act meets the requirements for negotiability, endorsement, and payment of these instruments. It also outlines the penalties for dishonoring a negotiable instrument. Businesses and individuals must understand this crucial Act of 1881. It helps them settle their financial transactions. The Act serves businesses and individuals in the end.
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