However, common usage has increasingly conformed to more recent versions of Article 3, where " check " means any or all of these negotiable instruments.
32.
In India, a bounced check is a criminal offense, punishable by fines and / or jail term, under Section 138 of the Negotiable Instruments Act, 1881.
33.
On land this would be extortion and the promise to pay unenforceable in court, but at sea it was accepted practice and the IOUs negotiable instruments.
34.
The UK passed the Bills of Exchange Act in 1882, and India passed the Negotiable Instruments Act ( NI Act ) 1881; which both covered cheques.
35.
It has been declared as public holiday under the Negotiable Instruments Act, 1881, on 19th March 2015, by Ministry of Personnel, Public Grievances and Pensions, Government of India.
36.
There's a body of law on negotiable instruments and nowhere does it say you have to provide fingerprints, hair samples, blood, urine or any other bodily fluids ."
37.
An IOU differs from a promissory note in that an IOU is not a negotiable instrument and does not specify repayment terms such as the time of repayment.
38.
However, the assignment or conveyance of a contract secured by real property " may " be regulated by Article 3 to the extent that the contract is a negotiable instrument.
39.
Gilmore alleges, that rather than contract coming first, and the various specialties being developed afterwards, it actually was the opposite, where contract enveloped pre-existing specialties, like negotiable instruments and sales.
40.
What makes a payment system a system is the use of cash-substitutes; traditional payment systems are negotiable instruments such as direct credits, direct debits, internet banking and e-commerce payment systems.
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