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Section 121 - Estoppel against denying capacity of payee to indorse, Section 122 - Estoppel against denying signature or capacity of prior party : Negotiable Instruments Act 1881

 

 

What is Estoppel against denying capacity of payee to indorse? What is Estoppel against denying signature or capacity of prior party? Estoppel against denying capacity of payee to indorse and Estoppel against denying signature or capacity of prior party are defined under Section 121 and 122 of Negotiable Instruments Act 1881

Section 121 of Negotiable Instruments Act 1881: "Estoppel against denying capacity of payee to indorse"

No maker of a promissory note and no acceptor of a bill of exchange payable to order shall, in a suit thereon by a holder in due course, be permitted to deny the payee's capacity, at the rate of the note or bill, to indorse the same.

 

Section 122 of Negotiable Instruments Act 1881: "Estoppel against denying signature or capacity of prior party"

No indorser of a negotiable instrument shall, in a suit thereon by a subsequent holder, be permitted to deny the signature or capacity to contract of any prior party to the instrument.

 

Negotiable Instruments Act 1881

Section 121 - Estoppel against denying capacity of payee to indorse

Section 122 - Estoppel against denying signature or capacity of prior party

CHAPTER XIV
OF CROSSED CHEQUES

Section 123 - Cheque crossed generally

Section 124 - Cheque crossed specially

 

 

Section 125 - Crossing after issue

Section 126 - Payment of cheque crossed generally

Section 127 - Payment of cheque crossed specially more than once

Section 128 - Payment in due course of crossed cheque

Section 129 - Payment of crossed cheque out of due course

Section 130 - Cheque bearing not negotiable

 

 

Section 131 - Non-liability of banker receiving payment of cheque

Section 131A - Application of Chapter to drafts

CHAPTER XV
OF BILLS IN SETS

Section 132 - Set of bills

Section 133 - Holder of first acquired part entitled to all

CHAPTER XVI
OF INTERNATIONAL LAW

Section 134 - Law governing liability of maker, acceptor or indorser of foreign instrument

Section 135 - Law of place of payment governs dishonour

Section 136 - Instrument made, etc., out of India, but in accordance with the law of India

 

 

Section 137 - Presumption as to Foreign Law

CHAPTER XVII
OF PENALTIES IN CASE OF DISHONOUR OF CERTAIN CHEQUES FOR INSUFFICIENCY OF FUNDS IN THE ACCOUNTS

Section 138 - Dishonour of cheque for insufficiency, etc., of funds in the account

Section 139 - Presumption in favour of holder

Section 140 - Defence which may not be allowed in any prosecution under section 138

Section 141 - Offences by companies

Section 142 - Cognizance of offences

Section 143 - Power of Court to try cases summarily

Section 144 - Mode of service of summons

Section 145 - Evidence on affidavit

Section 146 - Bank's slip prima facie evidence of certain facts

Section 147 - Offences to be compoundable

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