Section 113 of Negotiable Instruments Act - Payment for honour

Section 113 Negotiable Instruments Act Description

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 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.

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