Extinguishment of rights on a negotiated bill: remedies end when the acceptor holds the bill in own right after maturity. When the acceptor of a negotiated bill holds the instrument in his own right at or after maturity, all rights of action on the bill are extinguished, terminating the holder's ability to pursue remedies against prior parties.
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.
Extinguishment of rights on a negotiated bill: remedies end when the acceptor holds the bill in own right after maturity.
When the acceptor of a negotiated bill holds the instrument in his own right at or after maturity, all rights of action on the bill are extinguished, terminating the holder's ability to pursue remedies against prior parties.
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