Authority to bind company: acts by persons with express or implied authority bind the company for bills and promissory notes. A bill of exchange, hundi or promissory note is deemed to have been made, accepted, drawn or endorsed on behalf of a company if executed in the company's name, on its behalf, or on its account by any person acting under the company's express or implied authority, thereby attributing to the company the legal effect of such negotiable instruments.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Authority to bind company: acts by persons with express or implied authority bind the company for bills and promissory notes.
A bill of exchange, hundi or promissory note is deemed to have been made, accepted, drawn or endorsed on behalf of a company if executed in the company's name, on its behalf, or on its account by any person acting under the company's express or implied authority, thereby attributing to the company the legal effect of such negotiable instruments.
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