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Section 63
All parties are released from liability
After the payment or satisfaction period of the bill of exchange has been completed, all other parties will be released from the liability related to the bill after it has been duly paid or accepted as satisfaction.
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