Today's topic is ---- Negotiable Instruments----
Negotiable instrument is basicaly wo papers ya bond jinhe aap negotiable instrument act 1881 ke under in future use kar sakte h...means tumne kisi ko loan diya aur wo repay na kare den u can use it...
Promissory note: if u take a loan then u have to make a document in which u say that u will repay that amount in a given time of period...in general u make a promise to urself for paying that loan...ex: our currncy nte "i promise to pay the bearer the sum of....." ab agr aap chahte ho ki aap ki jagah aap ka paisa koi aur collect kar le to bas simple h us promissory note ko kisi 3rd person ke naam par transfer kar do....
Bill of exchange: if u have given a loan of 100 rs to A....but after sometime u needed money and u also take a loan of 100 rs frm B den u have a power to mak a document in which u direct A to pay 100 rs directly to B....
Negotiable instrument is basicaly wo papers ya bond jinhe aap negotiable instrument act 1881 ke under in future use kar sakte h...means tumne kisi ko loan diya aur wo repay na kare den u can use it...
Promissory note: if u take a loan then u have to make a document in which u say that u will repay that amount in a given time of period...in general u make a promise to urself for paying that loan...ex: our currncy nte "i promise to pay the bearer the sum of....." ab agr aap chahte ho ki aap ki jagah aap ka paisa koi aur collect kar le to bas simple h us promissory note ko kisi 3rd person ke naam par transfer kar do....
Bill of exchange: if u have given a loan of 100 rs to A....but after sometime u needed money and u also take a loan of 100 rs frm B den u have a power to mak a document in which u direct A to pay 100 rs directly to B....
Subscribe to our mailing list to get the updates to your email inbox...
Posts
