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Section 87 of Negotiable Instruments Act, 1881
Section 87 of Negotiable Instruments Act, 1881 deals with 'Effect of material alteration'
From the Act
Alteration by indorsee. Any material alteration of a negotiable instrument renders the same void as against any one 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.
Related Cases / Recent Cases / Case Laws
- Veera Exports Vs T Kaluvathy AIR 2002 SC 38: A negotiable instrument including a cheque can be re-validated. Such re-validation of cheque will not be a material alternation within the meaning of Section 87 of the Act.