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Section 35 of Negotiable Instruments Act 1881: Liability of Indorser

Section 35 (Liability of indorser) under Chapter III (Parties to Notes, Bills and Cheques) of the Negotiable Instruments Act, 1881 —

❝In the absence of a contract to the contrary, whoever indorses and delivers a negotiable instrument before maturity without, in such it indorsement, expressly excluding or making conditional his own liability, is bound thereby to every subsequent holder, in case of dishonour by the drawee, acceptor or maker, to compensate such holder for any loss or damage caused to him by such dishonour, provided due notice of dishonour has been given to, or received by, such indorser as hereinafter provided.

Every indorser after dishonour is liable as upon an instrument payable on demand.❞



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Notes:

(1) List of Amending Acts and Adaptation Orders

The Negotiable Instruments Act, 1881 (Act No. 26 of 1881) was amended by:

01. Negotiable Instruments Act, 1885 (Act No. 02 of 1885);
02. Amending Act, 1891 (Act No. 12 of 1891);
03. Negotiable Instruments (Amendment) Act, 1897 (Act No. 06 of 1897);
04. Decentralization Act, 1914 (Act No. 04 of 1914);
05. Negotiable Instruments (Amendment) Act, 1914 (Act No. 05 of 1914);
06. Negotiable Instruments (Amendment) Act, 1919 (Act No. 08 of 1919);
07. Negotiable Instruments (Amendment) Act, 1920 (Act No. 25 of 1920);
08. Negotiable Instruments (Amendment) Act, 1921 (Act No. 12 of 1921);
09. Negotiable Instruments (Amendment) Act, 1922 (Act No. 18 of 1922);
10. Negotiable Instruments (Amendment) Act, 1926 (Act No. 30 of 1926);
11. Negotiable Instruments (Amendment) Act, 1930 (Act No. 25 of 1930);
12. Negotiable Instruments (Amendment) Act, 1934 (Act No. 17 of 1934);
13. Government of India (Adaptation of Indian Laws) Order, 1937;
14. Negotiable Instruments (Amendment) Act, 1947 (Act No. 33 of 1947);
15. Indian Independence (Adaptation of Central Acts and Ordinances) Order, 1948;
16. Adaptation of Laws Order, 1950;
17. Part B States (Laws) Act, 1951 (Act No. 03 of 1951);
18. Negotiable Instruments (Amendment) Act, 1952 (Act No. 53 of 1952);
19. Negotiable Instruments (Amendment) Act, 1955 (Act No. 37 of 1955);
20. Jammu and Kashmir (Extension of Laws) Act, 1956 (Act No. 62 of 1956);
21. Repealing and Amending Act, 1957 (Act No. 36 of 1957);
22. Banking, Public Financial Institutions and Negotiable Instruments Laws (Amendment) Act, 1988 (Act No. 66 of 1988);
23. The Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002 (Act No. 55 of 2002);
24. The Negotiable instruments (Amendment) Act, 2015 (Act No. 26 of 2015);
25. The Negotiable Instruments (Amendment) Act, 2018 (Act No. 20 of 2018).

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