Negotiable Instruments Act, 1881
Section 132, NI Act: Set of bills
Section 132 of the Negotiable Instruments Act, 1881, in the Act's own words.
The section
132. Set of bills.
Bills of exchange may be drawn in parts, each part being numbered and containing a provision that it shall continue payable only so long as the others remain unpaid. All the parts together make a set; but the whole set constitutes only one bill, and is extinguished when one of the parts, if a separate bill, would be extinguished. Exception.—When a person accepts or indorses different parts of the bill in favour of different persons, he and the subsequent endorsers of each part are liable on such part as if it were a separate bill.The text is India Code's consolidated text as loaded into Pundora's statute corpus on 1 September 2026. A section quoted in a draft checked by Pundora is checked against this text.
Sources
- India Code: Negotiable Instruments Act, 1881, section 132 (read 1 September 2026)