NIA Section 113

Negotiable Instruments Act

US
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NIAChapter XI

S. 113

Payment for honour

Description

When a bill of exchange has been noted or protested for nonpayment, any person may pay the same for the honour of any party liable to pay the same, provided that the person so paying or his agent in that behalf has previously declared before a notary public the party for whose honour he pays, and that such declaration has been recorded by such notary public.

By Raman Devgan
Updated: 16 Aug 2018
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