The Negotiable Instruments Act, 1881
Section 41Acceptor bound although indorsement forged
In force
Chapter III PARTIES TO NOTES, BILLS AND CHEQUES
s. 41
41. Acceptor bound although indorsement forged An acceptor of a bill of exchange already indorsed is not relieved from liability by reason that such indorsement is forged, if he knew or had reason to believe the indorsement to be forged when he accepted the bill.