M draws a cheque in favour of N, a minor. N endorses it in favour of P. The cheque is dishonoured by the banker on the ground of insufficiency of funds? Discuss the rights of R
Section 26 of the Negotiable Instruments Act, 1881 provides that a minor may draw, endorse, deliver and negotiate instruments so as to bind all parties except himself.
Thus, in the given problem, P shall have a right to proceed against M only. N, the minor, cannot be held liable.
Section 26 of the Negotiable Instruments Act, 1881 provides that a minor may draw, endorse, deliver and negotiate instruments so as to bind all parties except himself.
Thus, in the given problem, P shall have a right to proceed against M only. N, the minor, cannot be held liable.
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