Lawzonline.com   Sign-in | Register
 
Home | Discussion Forum | Communities | Professional Search | Law Dictionary | Bare Acts | Law Schools | State Bare Acts | Free Judgement Search | Law quotes
Articles  |    Humor    |    Law Digest
 
 
Bare acts search

  Bookmark and Share
   
Bare acts > Negotiable Instruments Act, 1881 > Section 111
 
   


 

111. Liability of acceptor for honour.- An acceptor for honour binds himself to all parties subsequent to the party for whose honour he accepts to pay the amount of the bill if the drawee does not; and such party and all prior parties are liable in their respective capacities to compensate the acceptor for honour for all loss or damage sustained by him in consequence of such acceptance.

But an acceptor for honour is not liable to the holder of the bill unless it is presented, or (in case the address given by such acceptor on the bills is a place other than the place where the bill is made payable) forwarded for presentment, not later than the day next after the day of its maturity.

 

 

 

 

A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z

 

 

Quick Links          
           
Family Laws Insurance Laws Environmental law Tax Law FDI  
Company Law Telecommunication Law Labour Laws Central Rules RBI  
Business & Commercial Laws Consumer laws Corporate laws Criminal laws SEBI  
Intellectual Property law Media & Press laws Pharma & Medical laws Property law FEMA  
Debt Recovery Laws Amendments Professional law Banking Laws Legal Links  
           
           
 
 
  Partner Site
Adbeed.com India No 1 Business Directory and Classified Portal
Mybeed.com Your Online Library
 
 
 

 
   
 

 

 

Privacy PolicyDisclaimer | Link partners

Copyright @2010