धारा 50

Section 50 of the Negotiable Instruments Act, 1881, provides that an acceptance by the drawee's agent is valid if the agent has the authority to accept the bill. The section states that 'an acceptance by the drawee's agent is valid if the agent has the authority to accept the bill'. The section further explains that the authority of the agent to accept the bill can be express or implied. The Supreme Court has held in 'State Bank of India vs. M/s. M.M. Industries' (1995) that the authority of the agent to accept the bill must be proved by the holder of the bill.