NI Act Section 46: Delivery
Negotiable Instruments Act, 1881 · Chapter 4: Of negotiation
Also available in: हिंदी
¶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.
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 The historical schedule and section 2 are repealed.Read the original schedule and amendment notes
This text is for reference, not legal advice. Consult the official source for the authoritative text.
Other sections in this chapter
- 47. Negotiation by delivery
- 48. Negotiation by indorsement
- 49. Conversion of indorsement in blank into indorsement in full
- 50. Effect of indorsement
- 51. Who may negotiate
- 52. Indorser who excludes his own liability or makes it conditional
- 53. Holder deriving title from holder in due course
- 54. Instrument indorsed in blank
- 55. Conversion of indorsement in blank into indorsement in full
- 56. Indorsement for part of sum due
- 57. Legal representative cannot by delivery only negotiate instrument indorsed by deceased
- 58. Instrument obtained by unlawful means or for unlawful consideration
- 59. Instrument acquired after dishonour or when overdue
- 60. Instrument negotiable till payment or satisfaction