87: Effect of material alteration Alteration by indorsee
The Negotiable Instruments Act · Federal Acts · Chapter VII · in_force
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Any material alteration of a negotiable instrument renders the same void as against anyone who is a party thereto at the time of making such alteration and does not consent thereto, unless it was made in order to carry out the common intention of the original parties; Alteration by indorsee. and any such alteration, if made by an indorsee, discharges his indorser from all liability to him in respect of the consideration thereof. The provisions of this section are subject to those of sections 20, 49, 86 and 125.
Effective date: 1881-12-09
Related sections
86: Parties not consenting discharged by qualified or limited acceptance88: Acceptor or indorser bound notwithstanding previous alteration85A: Drafts drawn by one branch of a bank on another payable to order89: Payment of instrument on which alteration is not apparent85: Cheque payable to order90: Extinguishment of rights of action on bill in acceptor’s hands
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