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Section 58 – The Negotiable Instruments Act, 1881

The Negotiable Instruments Act, 1881

 

58. Instrument obtained by unlawful means or for unlawful consideration.-

 

When a negotiable instrument has been lost, or has been obtained form any maker, acceptor or holder thereof by means of offence or fraud, or for an unlawful consideration, no possessor or indorsee who claims through the person who found or so obtained the instrument is entitled to receive the amount due thereon from such maker, acceptor or holder, or from any party prior to such holder, unless such possessor or indorsee is, or some person through whom he claims was, a holder thereof in due course.

 

 

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The Negotiable Instruments Act, 1881

 

Indian Laws – Bare Acts

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