Effect of material alteration
Chapter 7: Of discharge from liability on notes, bills and cheques
Any material alteration of a negotiable instrument renders the same void as against anyone who is a party thereto at the time of making such alteration and does not consent thereto, unless it was made in order to carry out the common intention of the original parties; Alteration by indorsee.—And any such alteration, if made by an indorsee, discharges his indorser from all liability to him in respect of the consideration thereof. The provisions of this section are subject to those of sections 20, 49, 86 and 125.
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
- 85Cheque payable to order
- 85ADrafts drawn by one branch of a bank on another payable to order
- 86Parties not consenting discharged by qualified or limited acceptance
- 88Acceptor or indorser bound notwithstanding previous alteration
- 89Payment of instrument on which alteration is not apparent
- 90Extinguishment of rights of action on bill in acceptors’ hands