Under Section 95 of the Negotiable Instruments Act, 1881, a party receiving notice of dishonour must…
Section 95 of the Negotiable Instruments Act requires onward notice "in order to render any prior party liable to himself". It preserves recourse against prior parties…
Choose your answer
Under Section 95 of the Negotiable Instruments Act, 1881, a party receiving notice of dishonour must give notice to prior parties within a reasonable time when he wants to:
Answer and explanation
Correct answer B
Section 95 of the Negotiable Instruments Act requires onward notice "in order to render any prior party liable to himself". It preserves recourse against prior parties without releasing the notifier’s own liability; special rights after reacquisition under Section 52 do not turn this notice rule into a rule about later indorsers.
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