First, we will go over a brief history of this act and attempt to trace its origins. We will then go over the various major amendments that have transpired up to this point.
We will look at what the current obstacles and issues are under the Negotiable Instruments Act. We'll look at what loopholes exist in the act's various clauses, as well as what steps the country's courts have taken to fill in the gaps. We'll take a look at some of the most important recent decisions of various courts simultaneously and We shall attempt to respond to some of the questions posed by the nation's collective conscience.
There are three important instruments that are heavily regulated under the act, namely, promissory notes, bills of exchange, and cheques. This article focuses primarily on one of the instruments, that is cheques.