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Report No. 11

136. Rights and duties of payer for honour.-

(1) Any person paying for honour, on paying to the holder the amount of the bill and the notarial expenses incidental to its dishonour, is entitled to receive both the bill itself and the protest. If the holder does not on demand deliver them up, he shall be liable to the payer for honour in damages.1

(2) Such person is also entitled to all the rights and is subject to all the duties2 of the holder at the time of such payment, in relation to the party for whose honour he pays and all parties liable to that party, and may recover from all such parties all sums so paid by him with interest thereon and with all expenses properly incurred in making such payment.

1. See section 68(6), BEA.

2. See section 68(5), BEA.

[Section 114]



Negotiable Instruments Act, 1881 Back




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