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Negotiable Instruments Act, 1881

Section 41, NI Act: Acceptor bound, although, indorsement forged

Pundora · Published 3 October 2026

Section 41 of the Negotiable Instruments Act, 1881, in the Act's own words.

The section

41. 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.

The text is India Code's consolidated text as loaded into Pundora's statute corpus on 1 September 2026. A section quoted in a draft checked by Pundora is checked against this text.

Sources

  1. India Code: Negotiable Instruments Act, 1881, section 41 (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.