Section 56
Indorsement for part of sum due
Chapter 4: Of negotiation
No writing on a negotiable instrument is valid for the purpose of negotiation if such writing purports to transfer only a part of the amount appearing to be due on the instrument; but where such amount has been partly paid, a note to that effect may be indorsed on the instrument, which may then be negotiated for the balance.
The Negotiable Instruments Act, 1881 (Act No. 26 of 1881). From the updated text on India Code, with later amendments. Being checked against the official copy; amendment notes are not shown yet.
Related sections
- 53Holder deriving title from holder in due course
- 54Instrument indorsed in blank
- 55Conversion of indorsement in blank into indorsement in full
- 57Legal representative cannot by delivery only negotiate instrument indorsed by deceased
- 58Instrument obtained by unlawful means or for unlawful consideration
- 59Instrument acquired after dishonour or when overdue