please explian and make me understand meaning of "noting and protest" give under negotiable instruments act. please explain it in detail and including its implications.
thanks
VIKAS GARG (LAWYER) 31 May 2009
please explian and make me understand meaning of "noting and protest" give under negotiable instruments act. please explain it in detail and including its implications.
thanks
A V Vishal (Advocate) 31 May 2009
Dear Garg
Under the NI Act, noting and protest are important since the Notary certifies that the instrument is dishonoured, according to S.99. Noting: When a promissory note or bill of exchange ha s been dishonoured by non-acceptance or non-payment, the holder may cause such dishonour to be noted by a notary public upon the instrument, or upon a paper attached thereto, or partly upon each.
Such note must be made within a reasonable time after dishonour, and must specify the date of dishonour, the reason, if any, assigned for such dishonour, or, if the instrument has not been expressly dishonoured, the reason why the holder treats it as dishonoured, and the notary's charges.
d.daniel ambrose (senior partner) 18 January 2010
dear sir/madam,
kindly send me a copy of format for noting and protest if available;
thanking you,
d.daniel,
advocate.