Under the Bills of Exchange Act, a negotiable instrument is void ab initio where it attempts to create a debtor-creditor relationship between the parties to it.

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Under the Bills of Exchange Act, a negotiable instrument does not become void ab initio simply because it creates a debtor-creditor relationship between the parties. Negotiable instruments, such as bills of exchange, promissory notes, and cheques, are meant to facilitate the transfer of money and can indeed establish debtor-creditor relationships. The Act provides the legal framework for these instruments, including their creation, transfer, and the rights and obligations of the parties involved.

Under the Bills of Exchange Act, a Negotiable Instrument Is