Section 102 NI Act: Notice of protest

Negotiable Instruments Act, 1881

Section 102 NI Act at a Glance

Section 102 NI Act states that when a promissory note or bill of exchange is required by law to be protested, notice of protest must be given instead of notice of dishonour, and allows the notary public to give it.

Section 102 NI Act Bare Act Text

102. Notice of protest.

When a promissory note or bill of exchange is required by law to be protested, notice of such protest must be given instead of notice of dishonour, in the same manner and subject to the same conditions; but the notice may be given by the notary public who makes the protest.

Section 102 NI Act in Simple Words

Section 102 NI Act sets the rule for giving notice when a promissory note or a bill of exchange is required by law to be protested.

In such cases, Section 102 NI Act requires that notice of the protest must be given instead of notice of dishonour. That notice of protest must be given in the same manner and subject to the same conditions as a notice of dishonour.

Section 102 NI Act also provides that the notice of protest may be given by the notary public who makes the protest.

When Section 102 NI Act Applies

  • A promissory note or bill of exchange is required by law to be protested.
  • Notice of the protest must be given instead of notice of dishonour.
  • The notice of protest must be given in the same manner and subject to the same conditions as a notice of dishonour.
  • The notice of protest may be given by the notary public who makes the protest.

Example of Section 102 NI Act

Meera in Mangaluru holds a foreign bill of exchange for ₹2,50,000 that is required by the law of the place where it was drawn to be protested on dishonour under Section 104 NI Act. When the drawee dishonours the bill, Meera causes a notary public in Mangaluru to protest the bill. Under Section 102 NI Act, notice of the protest must be given instead of notice of dishonour, in the same manner and subject to the same conditions as a notice of dishonour. The notary public who made the protest gives the notice of protest on Meera's behalf, which Section 102 NI Act permits.

FAQs on Section 102 NI Act

What is Section 102 NI Act?▼

Section 102 NI Act governs notice of protest when a promissory note or bill of exchange is required by law to be protested. It requires notice of the protest to be given instead of notice of dishonour, in the same manner and subject to the same conditions, and allows the notary public who makes the protest to give that notice.

When is notice of protest required instead of notice of dishonour under Section 102 NI Act?▼

Whenever a promissory note or bill of exchange is required by law to be protested. In that case, Section 102 NI Act requires notice of protest to replace notice of dishonour.

Can the notary public give the notice of protest under Section 102 NI Act?▼

Yes. Section 102 NI Act states that the notice of protest may be given by the notary public who makes the protest.

What rules govern the manner of giving a notice of protest under Section 102 NI Act?▼

The rules that apply to a notice of dishonour. Under Section 102 NI Act, notice of protest must be given in the same manner and subject to the same conditions as notice of dishonour.

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Disclaimer: This is for informational purposes only. Always consult a qualified advocate for legal advice.

Sources: Bare Act Text, Negotiable Instruments Act, 1881 (India Code) ·