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Negotiable Instruments Act, 1881

Section 121, NI Act: Estoppel against denying capacity of payee to indorse

Pundora · Published 3 October 2026

Section 121 of the Negotiable Instruments Act, 1881, in the Act's own words.

The 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.

The text is India Code's consolidated text as loaded into Pundora's statute corpus on 1 September 2026; a number before a square bracket is India Code's own footnote marker for an amendment. A section quoted in a draft checked by Pundora is checked against this text.

Sources

  1. India Code: Negotiable Instruments Act, 1881, section 121 (read 1 September 2026)

The Act's own words, from India Code. If the text here differs from the Gazette, the Gazette governs; write to contact@pundora.in and it will be corrected and dated.