NIA 120 — Estoppel against denying original validity of instrument

Negotiable Instruments Act, 1881

Statutory text

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 in  a  suit  thereon  by  a  holder  in  due  course,  be  permitted  to  deny  the  validity  of  the instrument as originally made or drawn.

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