Section 60: Instrument negotiable till payment or satisfaction

In plain words

A negotiable instrument can be negotiated until it is paid or satisfied by the maker, drawee or acceptor at or after maturity, but not afterwards. The maker, drawee or acceptor cannot negotiate it after maturity.

A simplified explanation, prepared with AI assistance from the official text below and checked automatically against it for numbers and cross-references. The official text is the law and prevails over this summary. Not legal advice.

Official text

A negotiable instrument may be negotiated (except by the maker, drawee or acceptor after maturity) until payment or satisfaction thereof by the maker, drawee or acceptor at or after maturity, but not after such payment or satisfaction.

Source: India Code (indiacode.gov.in), the consolidated text published by the Legislative Department, Government of India. Text as updated on India Code on 15 October 2026. Words in square brackets [ ] were inserted or substituted by later amending Acts, and *** marks words omitted by an amendment. The amendment footnotes are not reproduced here. Official text on India Code.

Supreme Court judgments citing the section 60

No Supreme Court judgment in our database cites this section yet.