Negotiable instruments Video no 42

Sec - 46, "As between such parties and any holder of the instrument otherthan a holder in due course, it may be shown that the instrument was delivered conditionally or for a special purpose only, and not for the purpose of transferring absolutely the property therein " Can u explain this provision?

surya prakash

surya prakash

CA Inter


22-Jun-20 09:49


Answers (1)

If itâ??s not holder in due course then negotiable instrument payable to bearer has to be delivered with condition or special purpose

Lavanya Chitturi

Lavanya Chitturi


23-Jun-20 09:54