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      Question

      An acceptor or indorser of negotiable instrument is

      bound by his acceptance or indorsement
      A Under all circumstances Correct Answer Incorrect Answer
      B Despite any previous alterations of the instrument Correct Answer Incorrect Answer
      C Despite any previous or subsequent alterations of the instrument Correct Answer Incorrect Answer
      D But not to the holder in due course Correct Answer Incorrect Answer
      E None of the above Correct Answer Incorrect Answer

      Solution

      Section 88 of NI Act Acceptor or indorser bound notwithstanding previous alterationтАФAn acceptor or indorser of a negotiable instrument is bound by his acceptance or indorsement notwithstanding any previous alteration of the instrument.

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