Section 27
Agency.
The Negotiable Instruments Act, 1881
About this Act
An Act to define and amend the law relating to Promissory Notes, Bills of Exchange and Cheques.
Every person capable of binding himself or of being bound, as mentioned in section
26, may so bind himself or be bound by a duly authorized agent acting in his name.
A general authority to transact business and to receive and discharge debts does not confer upon an agent the power of accepting or indorsing bills of exchange so as to bind his principal.
An authority to draw bills of exchange does not of itself import an authority to indorse.
A general authority to transact business and to receive and discharge debts does not confer upon an agent the power of accepting or indorsing bills of exchange so as to bind his principal.
An authority to draw bills of exchange does not of itself import an authority to indorse.