Under the Negotiable Instruments Act, 1881, an indorser who pays the amount due may recover:
Section 117(c) entitles an indorser who, being liable, has paid the amount due to "the amount so paid with interest at eighteen per centum per annum from the date of payment…
Choose your answer
Under the Negotiable Instruments Act, 1881, an indorser who pays the amount due may recover:
Answer and explanation
Correct answer D
Section 117(c) entitles an indorser who, being liable, has paid the amount due to "the amount so paid with interest at eighteen per centum per annum from the date of payment until tender or realisation thereof, together with all expenses caused by the dishonour and payment". All three heads are recoverable.
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