Step 1: Background of the Act:
The Negotiable Instruments Act, 1881, was enacted to define and regulate negotiable instruments such as promissory notes, bills of exchange, and cheques. It provides the legal framework for the use and transfer of these instruments in India.
Step 2: Date of Commencement:
Although the Act was passed in December 1881, it officially came into force on 1st March, 1882. This date marks the beginning of the Act’s applicability throughout India, establishing legal guidelines for negotiable instruments.
Step 3: Analysis of Options:
- (A) 9th December, 1881: Incorrect, this was the date the Act received assent.
- (B) 19th December, 1881: Incorrect, no major legislative action occurred on this date.
- (C) 1st March, 1882: Correct, this is the official date when the Act came into operation.
- (D) None of the above: Incorrect, as the correct date is clearly defined as 1st March, 1882.
Step 4: Final Conclusion:
The correct answer is (C) 1st March, 1882, as per the official records of the commencement of the Act.