NI Act Section 132: Set of bills
Negotiable Instruments Act, 1881 · Chapter 15: Of bills in sets
Also available in: हिंदी
¶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.
Official reference: India Code, Government of India — official section HTML — source review: 5 October 2026.Recorded edition / snapshot date: 2026-10-05.Banaka reference transcription of the official HTML snapshot; not an official or certified edition. Source wording and amendment brackets are retained; layout and footnote callouts are omitted. The recorded date is the review snapshot, not a separately dated consolidation. Hindi guides are original explanations. Read the source amendment notes and current judicial interpretation alongside the text. The historical schedule and section 2 are repealed.Read the original schedule and amendment notes
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