Under the proviso to Section 59 of the Negotiable Instruments Act, 1881, a person acquiring an…

The proviso to s.59 NI Act says that a person "who, in good faith and for consideration, becomes the holder, after maturity" of an accommodation note or bill "may recover the amount of the note or bill from any prior party". This is an exception to the main rule limiting a post-maturity holder to his transferor's rights.