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Report No. 11

50. Accommodation note or bill.-

Any person who, in good faith and for consideration, becomes the holder, after maturity, of a note or bill made, drawn or accepted without consideration, for the purpose of enabling some party thereto to raise money thereon, may recover the amount of the note or bill from any prior party.

[Section 59, Proviso]

Negotiable Instruments Act, 1881 Back

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