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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 32[payable to order] shall, in suit thereon by a holder in due course, be permitted to deny the payee's capacity, at the rate of the note or bill, to endorse the same.

Negotiable Instruments Act, 1881 Back

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