The Negotiable Instruments Act, 1881
Section 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.
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
Cases citing this section
No order or office report we hold cites this section yet.
Source: Order and office-report PDFs whose text cites the section, read by rule (document_citations); each case through its orders and office reports that carry the PDF