Section 113 NI Act — Payment for honour

The Negotiable Instruments Act, 1881 · Official PDF page 24

113. Payment for honour .—When a bill of exchange has been noted or protested for non-payment, any person may pay the same for the honour of any party liable to pay the same : provided that the person so paying 4[or his agent in that behalf] has previously declared before a notary public the party for whose honour he pays, and that such declaration has been recorded by such notary public.

Text extracted from the official PDF (India Code source copy; consolidation date not certified). Line breaks and footnote marks may differ; the PDF is the authority.

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