Negotiable Instruments Act, 1881
Section 46, NI Act: Delivery
Section 46 of the Negotiable Instruments Act, 1881, in the Act's own words.
The section
46. Delivery.
The making, acceptance or indorsement of a promissory note, bill of exchange or cheque is completed by delivery, actual or constructive. As between parties standing in immediate relation, delivery to be effectual must be made by the party making, accepting or indorsing the instrument, or by a person authorised by him in that behalf. As between such parties and any holder of the instrument other than a holder in due course, it may be shown that the instrument was delivered conditionally or for a special purpose only, and not for the purpose of transferring absolutely the property therein. A promissory note, bill of exchange or cheque payable to bearer is negotiable by the delivery thereof. A promissory note, bill of exchange or cheque payable to order is negotiable by the holder by indorsement and delivery thereof.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 46 (read 1 September 2026)