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Negotiable instrument Act

Corporate & Other Laws

I couldn't find out sec 53 in NI act video tabs. Please help me what is the meaning of sec 53 of ni act.

AKHIL KOSHY

CA Final

★ 7K+

10-Nov-20 21:25

455

Answers (4)

Section 53 of Negotiable Instruments Act 1881: "Holder deriving title from holder in due course" A holder of a negotiable instrument who derives title from a holder in due course has the rights thereon of that holder in due course.

Ruhi Khan

CA Inter

★ 2K+

11-Nov-20 02:32

Ruhi Khan

The example given to explain the meaning of holder in video 21 explains this point that the holder(son, legal heir) who received the bill from holder in due course (dead father, drawer) has the right of the holder in due course .