Description :

Negotiable instruments act cma foundation the advent of modern business practices contributed to the growth of newer ways of facilitating financial transactions previously cash was the most common mode of exchanging goods and services for their value the rise of negotiable instruments however brought radical changes in business practices. The negotiable instruments law was enacted for the purpose of facilitating not hindering or hampering transactions in commercial paper thus the said statute should not be tampered with haphazardly or lightly nor should it be brushed aside in order to meet the necessities in a single case 3. A negotiable instrument is a piece of paper which entitles a person to a sum of money and which is transferable from person to person by mere delivery or by endorsement and delivery the person to whom it is so transferred becomes entitled to the money also to the right to further transfer it