धारा 41

This section deals with the interpretation of terms used in the Negotiable Instruments Act, 1881. According to Section 41, 'acceptance' means an acceptance completed by delivery or notification. The section further explains that the acceptance must be absolute and unqualified. The Supreme Court of India has interpreted this section to mean that an acceptance which is conditional or qualified does not constitute a valid acceptance under the Act. For instance, in the case of 'Bharat Barrel & Drum Manufacturing Company vs. Bharat Petroleum Corporation Limited' (2005), the Court held that a conditional acceptance is not a valid acceptance under Section 41 of the Act.