Central Act
121
Section 121. Estoppel against denying capacity of payee to indorse.
The Negotiable Instruments Act, 1881
In forceAll India (Central Act)
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.