Section 121 — Estoppel against denying capacity of payee to indorse.
Negotiable Instruments Act, 1881
No maker of a promissory note and no acceptor of a bill of exchange 1 [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.Open in Lexace · Ask the AI about this section