can anyone interpretate these lines ??
Agency - Every person capable of binding himself or of being bound as, mentioned in section 26, may so bind himself or be bound by a duly authorised agent acting in his name.
A general authority to transact business and to receive and discharge debts does not confer upon an agent the power of accepting or indorsing bills of exchange so as to bind his principal.
an authority to draw bills of exchange does not of itself import an authority to indorse.
please interpretate these lines from a general authority.............................................. an authority to indorse.
CAclubindia
