Negotiable Instruments Act : Estoppel against denying capacity of payee to indorse. Indian Bare Acts :

Negotiable Instruments Act,1881

Act No : 26

Section : Estoppel against denying capacity of payee to indorse.

121.Estoppel against denying capacity of payee to indorse. 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.