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Section 41 - Acceptor bound, although, indorsement forged, Section 42 - Acceptance of bill drawn in fictitious name : Negotiable Instruments Act 1881

 

 

Is Acceptor bound, although, indorsement forged? What is Acceptance of bill drawn in fictitious name? Acceptor bound, although, indorsement forged Acceptance of bill drawn in fictitious name are defined under Section 41 and 42 of Negotiable Instruments Act 1881

Section 41 of Negotiable Instruments Act 1881: "Acceptor bound, although, indorsement forged"

An acceptor of a bill of exchange already indorsed is not relieved from liability by reason that such indorsement is forged, if he knew or had reason to believe the indorsement to be forged when he accepted the bill.

 

Section 42 of Negotiable Instruments Act 1881: "Acceptance of bill drawn in fictitious name"

An acceptor of a bill of exchange drawn in a fictitious name and payable to the drawer's order is not, by reason that such name is fictitious, relieved from liability to any holder in due course claiming under an indorsement by the same hand as the drawer's signature, and purporting to be made by the drawer

 

Negotiable Instruments Act 1881

Section 41 - Acceptor bound, although, indorsement forged

Section 42 - Acceptance of bill drawn in fictitious name

Section 43 - Negotiable instrument made, etc., without consideration

Section 44 - Partial absence or failure of money-consideration

Section 45 - Partial failure of consideration not consisting of money

Section 45A - Holder's right to duplicate of lost bill

 

 

CHAPTER IV
OF NEGOTIATION

Section 46 - Delivery

Section 47 - Negotiation by delivery

Section - 48 Negotiation by indorsement

Section 49 - Conversion of indorsement in blank into indorsement in full

Section 50 - Effect of indorsement

 

 

Section 51 - Who may negotiate

Section 52 -Indorser who excludes his own liability or makes it conditional

Section 53 - Holder deriving title from holder in due course

Section 54 - Instrument indorsed in blank

Section 55 - Conversion of indorsement in blank into indorsement in full

Section 56 - Indorsement for part of sum due

 

 

Section 57 - Legal representative cannot by delivery only negotiate instrument indorsed by deceased

Section 58 - Instrument obtained by unlawful means or for unlawful consideration

Section 59 - Instrument acquired after dishonour or when overdue

Section 60 - Instrument negotiable till payment or satisfaction

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