Thu. Mar 4th, 2021

Section 120 of The Negotiable Instruments Act, 1881

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120.  Estoppel against denying original validity of instrument.— No maker of a promissory note, and no drawer of a bill of exchange or cheque, and no acceptor of a bill of exchange for the honour of the drawer shall, in a suit thereon by a holder in due course, be permitted to deny the validity of the instrument as originally made or drawn.

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