FIR Online, download legal format. IPC, CPC, CrPC, IP, NI, CP Act

Section 121 - Estoppel against denying capacity of payee to indorse, Section 122 - Estoppel against denying signature or capacity of prior party : Negotiable Instruments Act 1881

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

 

 

Section 121 of Negotiable Instruments Act 1881: "Estoppel against denying capacity of payee to indorse"

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.

 

Section 122 of Negotiable Instruments Act 1881: "Estoppel against denying signature or capacity of prior party"

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.

Home    About Us     Privacy Policy     Disclaimer      Sitemap