Thu. Apr 15th, 2021

Section 113 of The Negotiable Instruments Act, 1881

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113.  Payment for honour.— 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 same: 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.

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