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Section 53
Payment
Subject to Section 56, the payment of the negotiable instrument shall be made to the holder. However, if a check or draft drawn on a bank is not presented to the bank for payment within 6 months from the date of drawing, the bank shall not be obliged to pay it.
Negotiable Instruments Act, 2034 (1977)
Preamble - 0
Chapter - 2
Section 3: Unclear Negotiable DeedsSection 4: Rights of the holderSection 5: Exchangeable warrants with no payment date writtenSection 6: Difference in numbers and lettersSection 7: Additional termSection 8: Payment after a fixed periodSection 9: Calculation of payment dateSection 10: If the payment date falls on a public holidaySection 11: Qualities of partiesSection 12: AgentSection 13: Liability of the agentSection 14: Responsibility of the heirsSection 15: Obligations of the drawerSection 16: Obligation of the Bank Paying the CheckSection 17: Obligations of the person who writes the promissory note or accepts the negotiable instrumentSection 18: Persons who may accept bills of exchangeSection 19: Liability of the person making the transferSection 20: Obligations of prior parties to the holder of the promissory noteSection 21: Being the same as the main debtorSection 22: On behalf of each later party, the prior party is the same as the main debtorSection 23: Obligation of suretySection 24: The person making the seat is exempted from liabilitySection 25: Taxable to be liableSection 26: Negotiable deed without considerationSection 27: Another copy must be given
Chapter - 4
Section 40: After presentation for acceptance Section 41: Time to be given to the draweeSection 42: Presentation of the promissory noteSection 43: Presentation for paymentSection 44: Negotiable deed to be paid at specified placeSection 45: Negotiable deed without written place of paymentSection 46: If the place of residence or business is not certainSection 47: Check to be presented when claiming on drawerSection 48: Delay in presentation is not consideredSection 49: To be presented within a reasonable timeSection 50: Presentable to the agent or the holderSection 51: Non-Presentation for PaymentSection 52: Compensation to be given in case of negligence or mistake
Chapter - 5
Section 53: PaymentSection 54: InterestSection 55: Transfer of negotiable certificate after receiving paymentSection 56: Exemption from liabilitySection 57: Exemption from liability if the payee is given more timeSection 58: Discharge of check payable to “drawer or drawee”Section 59: Exemption from the obligation to pay a draftSection 60: Conditional AcceptanceSection 61: Addition or Kermat in Exchangeable DeedsSection 62: Payment of Kermat or Non-Decreased Negotiable DeedsSection 63: All parties are released from liability
Chapter - 6
Section 64: Disrespect by rejectionSection 65: Dishonor by refusing to paySection 66: Notice of dishonorSection 67: Method of giving notice of dishonorSection 68: Time allowed by the agent to notify the dishonorSection 69: If the notified person diesSection 70: Circumstances where notice of dishonor is not requiredSection 71: Disrespectful conduct can be reported (noted) by a notary publicSection 72: Disrespectful behavior can be provenSection 73: Additional protection can be obtained by proving the behavior soughtSection 74: Matters to be included in proofSection 75: Certified noticeSection 76: In case of refusal and dishonour, it can be proved that payment has not been madeSection 77: Foreign negotiable instrument to be certified
Chapter - 8
Section 81: Ordinary crossed checkSection 82: Special drawn checkSection 83: Post-Expulsion DrawingSection 84: Payment of drawn checksSection 85: Payment of checks marked "Account Payee Only"Section 86: Payment of checks with more than one special drawingSection 87: Formal payment of drawn checksSection 88: Payment of drawn check in defaultSection 89: Checks marked “not negotiable”Section 90: The bank that receives the payment of the check is not liableSection 91: The provisions of this paragraph shall also apply in case of draft
Chapter - 9
Section 92: Acceptance for the sake of honorSection 93: Method of acceptance for honorSection 94: Obligation of the acceptor for the sake of honorSection 95: Payable for honorSection 96: Dishonor not dishonored unless dishonored by the alternate draweeSection 97: Acceptance and payment may be made even if not attestedSection 98: Bill of exchange can be drawn in different copiesSection 99: Provisions related to Foreign Exchangeable CertificatesSection 100: Conditions according to the law of the country of paymentSection 101: Validity of negotiable instruments (written or drawn) abroadSection 102: Condition of foreign law being recognized as Nepalese lawSection 103: Special Provisions on EvidenceSection 104: The condition of not being able to say that it was not duly issuedSection 105: The condition of not being able to say that the party was not qualified to enter into a contractSection 106: Appointment of Notary PublicSection 106A: Provisions related to notary publicSection 106B: Removal of Notary PublicSection 107: Determination of compensationSection 107A: PunishmentSection 108: Limitation periodSection 109: Power to make rules