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Report No. 11

55. Stranger signing instrument presumed to be indorser.-

A person placing his signature upon an instrument otherwise than as maker, drawer or acceptor, is presumed to be an indorser, unless he clearly indicates by appropriate words his intention to be bound in some other capacity.1

1. See section 63, NIL (USA) and section 56, BEA.

Negotiable Instruments Act, 1881 Back

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