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Section 121 – The Negotiable Instruments Act, 1881

The Negotiable Instruments Act, 1881

 

121. Estoppel against denying capacity of payee to endorse

 

No maker of a promissory note and no acceptor of a bill of exchange or cheque, and no acceptor of a bill of exchange 1[payable to order] shall, in suit thereon by a holder in due course, be permitted to deny the payee’s capacity, at the rate or the note or bill, to endorse the same.

 

1. Substituted by Act 8 of 1919, sec. 5 for “payable to, or to the order of, a specified person”.

 

 

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The Negotiable Instruments Act, 1881

 

Indian Laws – Bare Acts

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