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of <h1>Makers of promissory notes can't deny payee's endorsement capacity under Section 118, Negotiable Instruments Act, 1881.</h1> No maker of a promissory note or acceptor of a bill of exchange payable to order can deny the payee's capacity to endorse the instrument in a lawsuit by a holder in due course. This provision under the Negotiable Instruments Act, 1881, establishes an estoppel, preventing the maker or acceptor from challenging the payee's authority to endorse the note or bill, thereby ensuring the validity and transferability of negotiable instruments.
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