NIA Section 121

Negotiable Instruments Act

US
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NIAChapter XIII

S. 121

Estoppel against denying capacity of payee to indorse

Description

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

By Raman Devgan
Updated: 16 Aug 2018
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