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The Negotiable Instruments Act, 1881

( ACT NO. XXVI OF 1881 )

Chapter XIII


Estoppel against denying capacity of payee to indorse
121. 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.

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