Section 113 - Payment for honour, Section 114 - Right of payer for
honour : Negotiable Instruments Act 1881
What is Payment for honour? What is Right of payer for honour?
Payment for honour and Right of payer for honour are defined under Section
113 and 114 of Negotiable
Instruments Act 1881
Section 113 of Negotiable Instruments Act 1881: "Payment for
When a bill of exchange has been noted or
protested for non-payment, any person may pay the
same for the honour of any party liable to pay the
Provided that the person so paying or his agent in that
behalf has previously declared before a notary public the party
for whose honour he pays, and that such declaration has been
recorded by such notary public.
Section 114 of Negotiable Instruments Act 1881:
"Right of payer for honour"
Any person so paying is entitled to all the rights, in
respect of the bill, of the holder at the time of such payment,
and may recover from the party for whose honour he pays all sums
so paid, with interest thereon and with all expenses properly
incurred in making such payment.