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The Negotiable Instruments Act, 1881

( ACT NO. XXVI OF 1881 )


Instrument acquired after dishonour or when overdue
59. The holder of a negotiable instrument, who has acquired it after dishonour, whether by non-acceptance or non-payment, with notice thereof, or after maturity, has only, as against the other parties, the rights thereon of his transferor and is subject to the equities to which the transferor was subject at the time of acquisition by such holder:

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