What is Estoppel against denying capacity of payee to indorse? What is Estoppel against denying signature or capacity of prior party? Estoppel against denying capacity of payee to indorse and Estoppel against denying signature or capacity of prior party are defined under Section 121 and 122 of Negotiable Instruments Act 1881
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 rate of the note or bill, to indorse the same.
No indorser of a negotiable instrument shall, in a suit thereon by a subsequent holder, be permitted to deny the signature or capacity to contract of any prior party to the instrument.
Negotiable Instruments Act 1881
Section 121 - Estoppel against denying capacity of payee to indorse
Section 122 - Estoppel against denying signature or capacity of prior party
CHAPTER XIV OF CROSSED CHEQUES
Section 123 - Cheque crossed generally
Section 124 - Cheque crossed specially
Section 125 - Crossing after issue
Section 126 - Payment of cheque crossed generally
Section 127 - Payment of cheque crossed specially more than once
Section 128 - Payment in due course of crossed cheque
Section 129 - Payment of crossed cheque out of due course
Section 130 - Cheque bearing not negotiable
Section 131 - Non-liability of banker receiving payment of cheque
Section 131A - Application of Chapter to drafts
CHAPTER XV OF BILLS IN SETS
Section 133 - Holder of first acquired part entitled to all
CHAPTER XVI OF INTERNATIONAL LAW
Section 134 - Law governing liability of maker, acceptor or indorser of foreign instrument
Section 135 - Law of place of payment governs dishonour
Section 136 - Instrument made, etc., out of India, but in accordance with the law of India
Section 137 - Presumption as to Foreign Law
CHAPTER XVII OF PENALTIES IN CASE OF DISHONOUR OF CERTAIN CHEQUES FOR INSUFFICIENCY OF FUNDS IN THE ACCOUNTS
Section 138 - Dishonour of cheque for insufficiency, etc., of funds in the account
Section 139 - Presumption in favour of holder
Section 140 - Defence which may not be allowed in any prosecution under section 138
Section 141 - Offences by companies
Section 142 - Cognizance of offences
Section 143 - Power of Court to try cases summarily
Section 144 - Mode of service of summons
Section 145 - Evidence on affidavit
Section 146 - Bank's slip prima facie evidence of certain facts