https://www.taxtmi.com/acts?id=7640 Acquisition after dishonour or after maturity limits a subsequent holder to the rights of the transferor; such acquirers take the instrument subject to the same defenses and objections that could be asserted against the transferor. However, a good faith purchaser for consideration who takes, after maturity, an accommodation promissory note or bill made without consideration to enable another to raise funds may recover the amount from any prior party. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 19 Jan 2008 22:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=7640 Acquisition after dishonour or after maturity limits a subsequent holder to the rights of the transferor; such acquirers take the instrument subject to the same defenses and objections that could be asserted against the transferor. However, a good faith purchaser for consideration who takes, after maturity, an accommodation promissory note or bill made without consideration to enable another to raise funds may recover the amount from any prior party. Act-Rules Indian Laws Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=7640