No maker of a promissory note and no acceptor of a bill of exchange [payable to order] shall, in a suit thereon by a holder in due course, be permitted to deny the payee's capacity, at the date of the note or bill, to indorse the same.
Section 121: Estoppel against denying capacity of payee to indorse.
The Negotiable Instruments Act, 1881Central Act · Act 26 of 1881
Where this provision sits
| Act | The Negotiable Instruments Act, 1881 |
|---|---|
| Section | 121 |
| Marginal note | Estoppel against denying capacity of payee to indorse. |
| Jurisdiction | Central |
| Status | In force as published by the source |
How this provision has been amended
Taken from the footnotes printed with the provision by the source. Where a footnote names the amending instrument, it is quoted as printed.
- substituted, Act 8 of 1919. . Subs. by Act 8 of 1919, s. 5, for payable to, or to the orderof, a specified person.
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