LawgistThe Negotiable Instruments Act
41Acceptor bound, although, indorsement forged
An acceptor of a bill of exchange already indorsed is not relieved from liability by reason that such indorsement is forged, if he knew or had reason to believe the indorsement to be forged when he accepted the bill.
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PARTIES TO NOTES, BILLS AND CHEQUES
- 26 Capacity to make, etc., promissory notes, etc
- 27 Agency
- 28 Liability of agent signing
- 29 Liability of legal representative signing
- 30 Liability of drawer
- 31 Liability of drawee of cheque
- 32 Liability of maker of note and acceptor of bill
- 33 Only drawee can be acceptor except in need or for honour
- 34 Acceptance by several drawees not partners
- 35 Liability of indorser
- 36 Liability of prior parties to holder in due course
- 37 Maker, drawer and acceptor principals
- 38 Prior party a principal in respect of each subsequent party
- 39 Suretyship
- 40 Discharge of indorser's liability
- 41 Acceptor bound, although, indorsement forged
- 42 Acceptance of bill drawn in fictitious name
- 43 Negotiable instrument made, etc., without consideration
- 44 Partial absence or failure of money-consideration
- 45 Partial failure of consideration not consisting of money
- 45A Holder's right to duplicate of lost bill
