Bills of Exchange Act, 1964 (Act No. 34 of 1964)

Chapter III

Unindorsed or irregularly indorsed instruments

92. Liability of maker
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The maker of a note by making it—

(a)engages that he will pay it according to its tenor;
(b)is precluded from denying to a holder in due course the existence of the payee and his then capacity to indorse.