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Report No. 11

18. Effect of drawing or indorsing instrument payable to order.-

Where an instrument, either originally or by indorsement, is expressed to be payable to the order of a specified person, and not to him or his order, it is nevertheless payable to him or his order at his option.

[Section 13(f), Expl. (iii)]



Negotiable Instruments Act, 1881 Back




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