Negotiable Instruments Act Section 108 — Acceptance for honour

CHAPTER XI OF ACCEPTANCE AND PAYMENT FOR HONOUR AND REFERENCE IN CASE OF NEED

General

Summary

If a bill of exchange has been formally recorded as not accepted, or noted for better security, someone who is not already responsible for the bill can step in. With the holder’s permission, this person can write on the bill that they accept it to protect the honour of any party involved.

Official Text

When a bill of exchange has been noted or protested for non-acceptance or for better security, any person not being a party already liable thereon may, with the consent of the holder, by writing on the bill, accept the same for the honour of any party thereto. 1***