Section 132 of NIA : Section 132: Set Of Bills

Explanation using Example

Imagine a scenario where a merchant in India is shipping goods to a buyer in Europe. To facilitate payment, the merchant uses a bill of exchange, which is a written order directing a party to pay a specified sum of money to another. The bill of exchange is drawn in three parts to provide security during the international transaction. Each part is numbered Part 1, Part 2, and Part 3, and includes a clause stating that it is only valid as long as the other...

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