74Estoppels against indorser

#### 74 Estoppels against indorser (1) An indorser of a cheque, by indorsing the cheque, is estopped: (a) from denying to a holder in due course the genuineness and regularity, in all respects, of the drawer’s signature and all previous indorsements; and (b) from denying to the indorsee to whom the indorser indorsed the cheque or a subsequent indorsee or to a holder who is not an indorsee: (i) that the cheque was, at the time when the indorser indorsed it, a valid and undischarged cheque; and (ii) that the indorser had, at that time, a good title to the cheque. (2) The reference in paragraph (1)(a) to a holder in due course includes a reference to a person who, but for a signature being written or placed on the cheque without the authority of the person whose signature it purports to be, would be a holder in due course.