While printing security papers like cheques such parameters are pre decided and can be checked in case of need. In different temperature and under different pressure this ink reacts differently. Here the inks used are sensitive to temperature or pressure.
The ink used are sensitive to temperature and pressure. The UV process relies on special inks that have photo initiators in them that when exposed to UV light, spurs a chain reaction that forms a solid, dry continuous ink, yielding bright, vivid colors and deep rich blacks. Here the currency note is an instrument and Rs.100/- is value and your act of giving it to me is the act of a contract meaning negotiation done by you.
Suppose you have given me a currency note of Rs.100/. It is a specialized type of contract for payment of money, which is unconditional and capable of transfer by negotiation. The person giving it, requesting the person to whom it is addressed to make payment on demand or at any fixed future date, the sum mentioned in the bill.Ī negotiable instrument (with particular reference to cheques) in simple words is a method of payment of money. Not going into the details of different laws and Acts I would like to explain these terms in very simple way to be understood in a very simple manner.Ī bill of exchange is unconditional order in writing, addressed by one person to another. When a cheque is issued it becomes a bill of exchange and also a negotiable instrument.īefore we proceed further I feel to make it clear as to what is a bill of exchange and negotiable instrument.
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