Section 121Estoppel against denying capacity of payee to indorse

s. 121

121. Estoppel against denying capacity of payee to indorse No maker of a promissory note and no acceptor of a bill of exchange payable to order shall, in a suit thereon by a holder in due course, be permitted to deny the payee's capacity, at the date of the note or bill, to indorse the same.