Section 117 of NIA : Section 117: Rules As To Compensation

Explanation using Example

Imagine John holds a cheque given by Alice which is due for payment. When John presents the cheque at the bank, it is dishonoured due to insufficient funds in Alice's account. Under Section 117 of The Negotiable Instruments Act, 1881, John is entitled to:

• The amount that was due on the cheque.
• Any expenses he incurred while presenting the cheque, such as bank charges for the dishonoured cheque.
• If Alice lived in a different city than where the cheque was supposed to be cashed, John could also claim the amount adju...

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