Negotiable Instruments Act Section 113 — Payment 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 officially noted or protested because it was not paid, any person can step in and pay it to protect the honour of someone who is liable to pay. However, before making this payment, that person (or their agent) must declare in front of a notary public which party they are paying for, and the notary must record this declaration.

Official Text

When a bill of exchange has been noted or protested for non-payment, any person may pay the same for the honour of any party liable to pay the same: provided that the person so paying 4[or his agent in that behalf] has previously declared before a notary public the party for whose honour he pays, and that such declaration has been recorded by such notary public.