...dated 1-12-2001, Samsung, Dubai was to issue a bill of exchange valued at US $1,432,000, in favour of the buyer, Sky Impex Ltd. Sky Impex Ltd. was to further endorse the bill of exchange in favour of...delivery, a sum of US $1,370,000, as sale consideration for the product.3. It was also provided in the agreement that after endorsement of the bill of exchange, the liability...of the buyer towards the seller would stand exhausted. Thereupon, the seller would hold the bill of exchange in due course and get vested with the authority under the Negotiable Instruments Act to...

...Sawhney v. Gulshan Rai (1993) 4 SCC 424. They took the view that the accused had only countermanded a bill of exchange on the date the accused...noted that a cheque under Section 6 of the Act is a bill of exchange drawn on a banker and is payable on demand. From this it follows that a bill of exchange though drawn on a banker, if not...payable on demand is not a cheque. A post-dated cheque is only a bill of exchange when it is written or drawn. It becomes a cheque when it is payable on demand. It is not payable till the date which is...

...defendant/2nd respondent. On December 31, 1986 about 7 tonnes of steel billets were shipped by the second respondent to CSC under invoice No. 710231 dated December 31, 1986 and the bill of lading No. 1 dated December 31, 1986. On February 3-4, 1987 the second respondent presented to the London Branch of the appellant, three bills of exchange dated...interest for 180 days at 7% per annum on the price of the goods. The bills of exchange were addressed to:MMTC of India Ltd.,A/c M/s Calcutta Steel Co. Ltd.,20, Hemanta Basu Sarani,Calcutta-700001.4. The cargo sent under bill of...and stamp of the company were put on them.5. On acceptance of the bills of exchange by CSC, the appellant released the documents of title to the goods. On March 3, 1987 CSC obtained necessary endorsement from MMTC confirming thus:“We enclose herewith bill of...

...-plaintiff under Order 37 of the Code of Civil Procedure.2. The claim of the appellant-plaintiff is based on a purported bill of exchange dated 15-2-1983 for a sum of Rs...1 crore only. The bill of exchange was drawn by two persons, namely, Raghunath Dutta and Amit Dutta (Respondents 3 and 4 respectively) as partners in the Firm, Metropolitan Construction (Respondent 2...). The bill of exchange was accepted by M/s Lgee Enterprises (not made a party to the suit) and was further shown to be accepted by Punjab National Bank (Respondent 1). It was then shown to be...

...portion of Section 5 and the provisions of Sections 6, 19, 138, 139 and 140 of the Act may be quoted hereunder:“5. ‘Bill of exchange’.—A ‘bill of exchange’ is an...instrument.***6. ‘Cheque’.—A ‘cheque’ is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on...demand.***19. Instrument payable on demand.—A promissory note or bill of exchange, in which no time for payment is specified, and a...

...1. The suit Bill of Exchange is drawn by one S. Babubhai and Company and accepted by the firm of the 1st defendants in which defendants 2 and 3 are the partners. The suit Bill of Exchange was...accepted by the 2nd defendant on behalf of the 1st defendants in his capacity as a partner therein. The suit has been filed by the plaintiffs against the acceptors of the suit Bill of Exchange.2.... The suit Bill of Exchange comprises of four sheets. On the first sheet bearing stamp of Rs. 10/-, the main body of the Bill of Exchange is written. On the other three sheets bearing...

...Instruments Act which is as follows:—“Where a bill of exchange has been lost before it is overdue, the person who was the holder of it may apply to the drawer to give him another...clearly if the draft was a bill of exchange then the plaintiffs right to get a duplicate of the lost draft cannot be questioned. In, Birbhum...Central Co-operative Bank Ltd. v. Pioneer Bank Ltd., AIR 1956 Cal 615, a Division Bench of this Court has observed that it is well settled that a banker's draft is a bill of exchange and as such it...

...question we have to know what is a cheque. Section 6 of the Act defines a cheque as this: “A cheque is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than...on demand.” Now we have to look at the definition of bill of exchange. It is contained in Section 5 of the Act. The first paragraph of this section is enough for the purpose of this case and...hence it is extracted below:“5. A ‘bill of exchange’ is an instrument in writing containing an unconditional order, signed by the maker, directing a certain person to pay a certain...

...nor has the defendant executed a bill of exchange, a hundi or a promissory note. Learned counsel for the plaintiff however, submits that the loan was advanced to the defendant by the plaintiff by a...cheque (which is a bill of exchange) drawn on Hongkong and Shanghai Banking Corporation and hence the suit is based on a bill of exchange and is maintainable as a summary suit. The learned counsel...Civil Procedure. He submits that the cheque is a bill of exchange drawn on a bank and as money was advanced to the defendant by a cheque i.e bill of exchange, the suit is based upon a bill of exchange and...

.... 3. The above Hundi is not a bill of exchange as defined under Section 5 of the Negotiable Instruments...Mangal Sen v. Ganeshi Lal AIR 1936 All. 396. 4. By the local usage such a Hundi is negotiable. 5 The definition of "Bill of Exchange" under the Stamp Act is wider...and includes a Hundi. Section 2(2) of the Stamp Act runs as follows: "Bill of exchange" means a bill of exchange as defined by the Negotiable Instruments Act...

.... Sections 5, 6, 19, 138, 139 and 140 of the Act, to the relevant extent, are reproduced hereunder:“5. Bill of exchange.— ‘Bill of Exchange’ is an instrument in writing....6. Cheque.— A ‘cheque’ is a bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demand.19. Instrument...payable on demand.— A promissory note or bill of exchange, in which no time for payment is specified, and a cheque, are payable on demand.138. Dishonour of cheque for...

..., 1999, till payment.2. The suit is based on a bill of exchange drawn by Rosmira Diamonds Bavba and accepted by the defendant. The bill of exchange was drawn on April 16, 1997, and was made...payable on July 14, 1997. In view of the defence raised by Mr. U.J Makhija, learned counsel appearing on behalf of the defendant, it will be convenient to set out the relevant part of the bill of exchange, which...136, Panchratna, Opera HouseMumbai-400004, IndiaFor Kamal & CompanyPartner.”3. The facts leading to the making of the bill of exchange are...

...to commence.”6. Similarly it has been stated in Stroud that “a bill of exchange, or note, is of the date expressed on its face, not the time when it is actually issued...Ranganath Misra, J.— These are appeals by special leave challenging the reversing common decision of the Punjab and Haryana High Court holding the insurer liable for...compensation under the Motor Vehicles Act of 1939.2. The insurer repudiated its liability by maintaining that the policy had been taken after the accident and, therefore, it...

...:“Under Section 35(a) of the Stamp Act there is a provision that for any such instrument or bill of exchange or promissory note, subject to all just exceptions, will...Section 2(23) of the Act to mean:“2. (23) Receipt.—‘Receipt’ includes any note, memorandum or writing—(a) whereby any money, or any bill of exchange, cheque...mentioned in that Schedule which, not having been previously executed by any person, is executed in India on or after the first day of July, 1899;(b) every bill of exchange payable...

.... If the learned Judge were right one of the most common methods of financing commercial operations would be suddenly put an end to. A cheque, as S. 6 says, is a bill of exchange drawn in a special...manner. But it is a bill of exchange none the less and as a bill of exchange it is negotiable: see Carpenter v. Street(1). The mere fact that the date of payment of a cheque is postponed to a future date...1. This is a second appeal from the decision of the learned Subordinate Judge of Allahabad. The plaintiff negotiated for the payee five post-dated cheques for consideration before the date...

....2. The plaintiff claims to have extended loan to defendant No. 1 in the sum of Rs. 5,00,000/- (Rupees Five Lakhs) against Bill of Exchange for the like amount upon the defendant Nos. 3 and 4...of defendant No. 1 of Standard Chartered Bank, D.N Road, Mumbai. According to the plaintiff, the Bill of Exchange has been executed on 8th May, 1996. Further, the said Bill of Exchange was accepted by...the defendant Nos. 3 and 4 on the same day by endorsing their signatures thereon. The plaintiff asserts that the Bill of Exchange was presented on 8th May, 1997 to defendant Nos. 3 and 4 for payment...

..., and I shall discuss first whether this instrument is a bill-of-exchange within the meaning of the phrase as it is used in the Stamp Act. If it is a bill-of-exchange, then as by its express...the question whether it is a bill-of-exchange, we have to refer to Clause 2, Section 2, Stamp Act. By that clause..."bill-of-exchange" is defined as meaning a bill-of-exchange as defined by the Negotiable Instruments Act, 1881 and...

...oleoresin capsicum and 925 kg of red chillies seed okl. For the export of these goods on 11-5-1994 Geekay furnished the necessary documents such as bill of lading, invoice, bill of exchange, details of...not realised, the bill of exchange with list of documents, was required to be returned with due diligence and with necessary note. For this deficiency in service, Respondent 2 is liable to pay the...Order1. Delay condoned in SLP (C) No. 5203 of 2007. Leave granted in all the special leave petitions. All these appeals arise out of the common...

.../-, (ii) an invoice dated 11th April, 1996 for Pound Sterling 38,970 and (iii) an invoice dated 1st May, 1996 for Pound Sterling 30,344/-. The plaintiff drew three Bills of Exchange which were duly accepted by the first defendant, these being as follows:(a) Bill of...Exchange dated 11th April, 1996 in the sum of Pound Sterling 38,970.00;(b) Bill of Exchange dated 20th May, 1996, in the sum of Pound Sterling 38,970.00; and(c) Bill of...Exchange dated 30th May, 1996, in the sum of Pound Sterling 30,344.64.The Bills of Exchange dated 11th April, 1996 and 20th May, 1996 were drawn payable at sight, while the Bill of...

...presented for payment. It is also contended that the document was not a bill of exchange within the meaning of Section 5 of...some importance is whether the document is a bill of exchange within the meaning of Section 5 read with Section 17 of the Negotiable Instruments Act. By Section 5 of the Negotiable...Instruments Act a bill of exchange is defined as“An instrument in writing containing an unconditional order signed by the maker, directing a certain person to pay a certain sum of...