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Section 51: Who may negotiate.

The Negotiable Instruments Act, 1881Central Act · Act 26 of 1881

Every sole maker, drawer, payee or indorsee, or all of several joint makers, drawers, payees or indorsees, of a negotiable instrument may, if the negotiability of such instrument has not been restricted or excluded as mentioned in section 50, indorse and negotiate the same.

Explanation.-- Nothing in this section enables a maker or drawer to indorse or negotiate an instrument, unless he is in lawful possession or is holder thereof; or enables a payee or indorsee to indorse or negotiate an instrument, unless he is holder thereof.

Illustration

A bill is drawn payable to A or order. A indorses it to B, the indorsement not containing the words "or order" or any equivalent words. B may negotiate the instrument.

Where this provision sits

ActThe Negotiable Instruments Act, 1881
Section51
Marginal noteWho may negotiate.
JurisdictionCentral
StatusIn force as published by the source

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