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BILLS OF EXCHANGE ACT 1882 - SECT 60

Banker paying demand draft whereon indorsement is forged.

60. When a bill payable to order on demand is drawn on a banker, and the
banker on whom it is drawn pays the bill in good faith and in the ordinary
course of business, it is not incumbent on the banker to show that the
indorsement of the payee or any subsequent indorsement was made by or under
the authority of the person whose indorsement it purports to be, and the
banker is deemed to have paid the bill in due course, although such
indorsement has been forged or made without authority.


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© 1882 Crown Copyright

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