Section 69 NI Act: Instrument payable at specified place

Negotiable Instruments Act, 1881

Section 69 NI Act at a Glance

Section 69 NI Act requires a promissory note or a bill of exchange made, drawn, or accepted payable at a specified place to be presented for payment at that place in order to hold the maker or the drawer liable.

Section 69 NI Act Bare Act Text

69. Instrument payable at specified place.

A promissory note or bill of exchange made, drawn or accepted payable at a specified place must, in order to charge the maker or drawer thereof, be presented for payment at that place.

Section 69 NI Act in Simple Words

Section 69 NI Act governs the place of presentment when a promissory note or a bill of exchange is made payable at a specified place.

Under Section 69 NI Act, when a promissory note or a bill of exchange is made, drawn, or accepted payable at a specified place, the instrument must be presented for payment at that specified place in order to charge the maker of the promissory note or the drawer of the bill of exchange.

When Section 69 NI Act Applies

  • The instrument is a promissory note or a bill of exchange.
  • The instrument is made, drawn, or accepted payable at a specified place.
  • The instrument must be presented for payment at that specified place in order to charge the maker or the drawer.

Example of Section 69 NI Act

Naveen makes a promissory note for ₹50,000 in favour of Arif, payable at Naveen's shop in Tiruchirappalli. The note does not use the words 'and not elsewhere'. Under Section 69 NI Act, in order to hold Naveen (the maker of the note) liable on the promissory note, Arif must present the note for payment at Naveen's shop in Tiruchirappalli.

FAQs on Section 69 NI Act

What is Section 69 NI Act?▼

Section 69 NI Act requires a promissory note or a bill of exchange that is made, drawn, or accepted payable at a specified place to be presented for payment at that place. This presentment at the specified place is necessary in order to hold the maker or the drawer of the instrument liable.

Where must a promissory note or bill of exchange payable at a specified place be presented under Section 69 NI Act?▼

At that specified place, in order to charge the maker or the drawer of the instrument.

Does Section 69 NI Act mention cheques?▼

No. Section 69 NI Act names only a promissory note or a bill of exchange.

How does Section 69 NI Act differ from Section 68 NI Act?▼

Section 68 NI Act applies to a promissory note, bill of exchange, or cheque payable at a specified place 'and not elsewhere' in order to charge any party to the instrument. Section 69 NI Act applies to a promissory note or bill of exchange payable at a specified place in order to charge the maker or the drawer.

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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) ·