धारा 49

According to Section 49 of the Negotiable Instruments Act, 1881, an acceptance must be in writing, unless the bill is accepted by the delivery of the bill to the holder. The section states that 'an acceptance must be in writing, unless the bill is accepted by the delivery of the bill to the holder'. The section further explains that the acceptance must be signed by the drawee or his agent. The Bombay High Court has held in 'Hindustan Co-operative Bank Ltd. vs. Surendra Mills' (1985) that an oral acceptance is not valid under the Act.