What is Noting? What is Protest? Noting and Protest are defined under Section 99 and 100 of Negotiable Instruments Act 1881
When a promissory note or bill of exchange has been dishonoured by non-acceptance or non-payment, the holder may cause such dishonour to be noted by a notary public upon the instrument, or upon a paper attached thereto, or partly upon each.
Such note must be made within a reasonable time after dishonour, and must specify the date of dishonour, the reason, if any, assigned for such dishonour, or, if the instrument has not been expressly dishonoured, the reason why the holder treats it as dishonoured, and the notary's charges.
When a promissory note or bill of exchange has been dishonoured by non- acceptance or non-payment, the holder may, within a reasonable time, cause such dishonour to be noted and certified by a notary public. Such certificate is called a protest.
Protest for better security.
When the acceptor of a bill of exchange has become insolvent, or
his credit has been publicly impeached, before the maturity of
the bill, the holder may, within a reasonable time, cause a
notary public to demand better security of the acceptor, and on
its being refused may, with a reasonable time, cause such facts
to be noted and certified as aforesaid. Such certificate is
called a protest for better security.
Negotiable Instruments Act 1881
Section 81 - Delivery of instrument on payment, or indemnity in case of loss
CHAPTER VII OF DISCHARGE FROM LIABILITY ON NOTES, BILLS AND CHEQUES
Section 82 - Discharge from liability
Section 83 - Discharge by allowing drawee more than forty-eight hours to accept
Section 84 - When cheque not duly presented and drawer damaged thereby
Section 85 - Cheque payable to order
Section 85A - Drafts drawn by one branch of a bank on another payable to order
Section 86 - Parties not consenting discharged by qualified or limited acceptance
Section 87 - Effect of material alteration
Section 88 - Acceptor or indorser bound notwithstanding previous alteration
Section 89 - Payment of instrument on which alteration is not apparent
Section 90 - Extinguishment of rights of action on bill in acceptor's hands
CHAPTER VIII OF NOTICE OF DISHONOUR
Section 91 - Dishonour by non-acceptance
Section 92 - Dishonour by non-payment
Section 93 - By and to whom notice should be given
Section 94 - Mode in which notice may be given
Section 95 - Party receiving must transmit notice of dishonour
Section 96 - Agent for presentment
Section 97 - When party to whom notice given is dead
Section 98 - When notice of dishonour is unnecessary
CHAPTER IX OF NOTING AND PROTEST