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Under the Negotiable Instruments Act, 1881, the indorser is discharged to the same extent as if:

Section 40 discharges the indorser "to the same extent as if the instrument had been paid at maturity". He is freed from liability to the holder as fully as if the…

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Under the Negotiable Instruments Act, 1881, the indorser is discharged to the same extent as if:

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Correct answer B

Section 40 discharges the indorser "to the same extent as if the instrument had been paid at maturity". He is freed from liability to the holder as fully as if the instrument had been met on the due date.

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