Section 120Central Act
Section 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the drawer shall, in a suit thereon by a holder in due course, be permitted to deny the validity of the instrument as originally made or drawn.
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Sec 119 — Presumption on proof of protest.
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Sec 121 — Estoppel against denying capacity of payee to indorse.
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