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Section 37 – The Negotiable Instruments Act, 1881

The Negotiable Instruments Act, 1881

 

37. Maker, drawer and acceptor principals.-

 

The maker of a promissory note or cheque, the drawer of bill of exchange until acceptance, and the acceptor are, in the absence of a contract to the contrary, respectively liable thereon as principal debtors, and the other parties thereto are liable thereon as sureties for the maker, drawer or acceptor, as the case may be.

 

 

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The Negotiable Instruments Act, 1881

 

Indian Laws – Bare Acts

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