Negotiable Instruments Act — Section 52

Indorser who excluds his own liability or makes it conditional

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.

Follow cited cases · Browse courts and years · Research topics

Judgments citing Section 52

Text reproduced from the public statutes on which the corpus is built. Verify against the official Gazette before relying on it. This is statute reference, not legal advice.