Question
A 'Demand Draft' is defined under section ________ of
the Negotiable Instruments Act 1881.ÂSolution
Demand draft is covered under s. 85 A of the Negotiable Instruments Act, 1882 S. 85A. Drafts drawn by one branch of a bank on another payable to order .—Where any draft, that is an order to pay money, drawn by one office of a bank upon another office of the same bank for a sum of money payable to order on demand, purports to be indorsed by or on behalf of the payee, the bank is discharged by payment in due course.
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