Question
What does "Indorsement without recourse"
mean?Solution
Negotiable Instrument Act Section 52. Indorser who excludes his own liability or makes it conditional:Â The indorser of a negotiable instrument may, by express words in the indorsement, exclude his own liability thereon, or make such liability or the right of the indorsee to receive the amount due thereon depend upon the happening of a specified event, although such event may never happen. Where an indorser so excludes his liability and afterwards becomes the holder of the instrument, all intermediate indorsers are liable to him. Illustrations (a) The indorser of a negotiable instrument sign; his name adding the words-- "Without recourse". Upon this indorsement he incurs no liability.
Under the provision of section 105-A of the Code of Criminal Procedure, 1973, 'Identifying includes:-
Which international conference is referenced in the preamble of the Environment (Protection) Act, 1986 as the basis for its enactment?
Where a bill of exchange is drawn in a set of six, how many of them need to be proved?
Formal Certificate of dishonor issued by the Notary Public to the holder of Bill or Note on his demand, is called as:
Who is eligible to file a complaint with the District Commission regarding goods or services under the Consumer Protection Act?
Which of the following is an exception to S.132?
As per LLP act, body corporate includes -
With reference to Section 213 of the Code of Criminal Procedure, 1973- read the following illustration and select the correct option.
'A' is a...
Under Section 431 BNSS, when an appeal from acquittal is filed, the High Court may:
 Under Section 43(3), the police officer may use handcuffs while arresting a person—
