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Section 41 - Acceptor bound, although, indorsement forged, Section 42 - Acceptance of bill drawn in fictitious name : Negotiable Instruments Act 1881
 

Is Acceptor bound, although, indorsement forged? What is Acceptance of bill drawn in fictitious name? Acceptor bound, although, indorsement forged Acceptance of bill drawn in fictitious name are defined under Section 41 and 42 of Negotiable Instruments Act 1881

 

 

Section 41 of Negotiable Instruments Act 1881: "Acceptor bound, although, indorsement forged"

An acceptor of a bill of exchange already indorsed is not relieved from liability by reason that such indorsement is forged, if he knew or had reason to believe the indorsement to be forged when he accepted the bill.

 

Section 42 of Negotiable Instruments Act 1881: "Acceptance of bill drawn in fictitious name"

An acceptor of a bill of exchange drawn in a fictitious name and payable to the drawer's order is not, by reason that such name is fictitious, relieved from liability to any holder in due course claiming under an indorsement by the same hand as the drawer's signature, and purporting to be made by the drawer

 

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