SOGA ,1930 and Negotiable Instruments Act ,1881.

Corporate & Other Laws

As per SOGA , 1930 - definition of goods excludes money in circulation and actionable claims ( negotiable instruments ). It implies that no negotiable instrument would be treated as good or commodity. But, Negotiable instrument Act 1881 states that Discounting of bill refers to selling of bill of exchange to bank . Meaning - NIA , 1881 treats actionable claims as goods . Then what to follow ??

Varun Mulay

CA Final

★ 39K+

22-Sep-21 13:49

717

Answers (1)

Where does it state that in Negotiable Instruments Act?

Sahibdeep Singh

CA Inter

★ 14K+

22-Sep-21 15:55