Section 119 - Presumption on proof of protest, Section 120 - Estoppel against denying original validity of instrument : Negotiable Instruments Act 1881

What is Presumption on proof of protest? What is Estoppel against denying original validity of instrument? Presumption on proof of protest and Estoppel against denying original validity of instrument are defined under Section 119 and 120 of Negotiable Instruments Act 1881

 

 

Section 119 of Negotiable Instruments Act 1881: "Presumption on proof of protest"

In a suit upon an instrument which has been dishonoured, the Court shall, on proof of the protest, presume the fact of dishonour, unless and until such fact is disproved.

 

Section 120 of Negotiable Instruments Act 1881: "Estoppel against denying original validity of instrument"

No maker of a promissory note, and no drawer of a bill of exchange or cheque, and no acceptor of a bill of exchange for the honour of the drawer shall, in a suit thereon by a holder in due course, be permitted to deny the validity of the instrument as originally made or drawn.