THE NEGOTIABLE INSTRUMENTS ACT, 1881 · S P E C I A L R U L E S O F E V I D E N C E
Section 121 — Estoppel against denying capacity of payee to indorse
No maker of a promissory note and no acceptor of a bill of exchange 2[payable to order] shall, in a suit thereon by a holder in due course, be permitted to deny the payee's capacity, at the date of the note or bill, to indorse the same.