Legislative Dictionary - C

Judicial Dictionary


Legislative Dictionary


Conditional

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CategoryC
TitleConditional
Details

A promise or order to pay is not "conditional", within the meaning of this section and section 4, by reason of the time for the payment of the amount or any instalment thereof being expressed to be on the lapse of a certain period after the occurrence of a specified event which, according to the ordinary expectation of mankind, is certain to happen, although the time of its happening may be uncertain.

[See section 5, the Negotiable Instrument Act, 1881 (Act No. XXVI of 1881)].
Created OnJune 1, 2011, 2:00 PM
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