The Key Provisions of the Negotiable Instruments Act The Act contains provisions relating to the following: Definition of negotiable instruments and the rights and duties of parties to such instruments The rights and liabilities of holders, endorsements, and the powers of holders to negotiate instruments The provisions relating to the crossing, acceptance, and payment of cheques The provisions relating to the discharge of parties to negotiable instruments and the effect of discharge The provisions relating to the material alterations of negotiable instruments and the rights and liabilities of parties in such cases The provisions relating to the liability of parties to bills of exchange for fraud, forgery, and other offences The Act defines a negotiable instrument as a written document that gives the holder the right to demand payment of a certain sum of money from the maker or issuer of the instrument. Negotiable instruments include promissory notes, bills of exchange, and
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