The Negotiable Instruments Act

Capacity to make, etc., promissory notes, etc

Agency

Liability of agent signing

Liability of legal representative signing

Liability of drawer

Liability of drawee of cheque

Liability of maker of note and acceptor of bill

Only drawee can be acceptor except in need or for honour

Acceptance by several drawees not partners

Liability of indorser

Liability of prior parties to holder in due course

Maker, drawer and acceptor principals

Prior party a principal in respect of each subsequent party

Suretyship

Discharge of indorser's liability

Acceptor bound, although, indorsement forged

Acceptance of bill drawn in fictitious name

Negotiable instrument made, etc., without consideration

Partial absence or failure of money-consideration

Partial failure of consideration not consisting of money

Holder's right to duplicate of lost bill


PARTIES TO NOTES, BILLS AND CHEQUES 


In the absence of a contract to the contrary, the
maker of a promissory note and the acceptor before maturity of a bill of exchange are bound to pay the
amount thereof at maturity according to the apparent tenor of the note or acceptance respectively, and the
acceptor of a bill of exchange at or after maturity is bound to pay the amount thereof to the holder on demand.

In default of such payment as aforesaid, such maker or acceptor is bound to compensate any party to
the note or bill for any loss or damage sustained by him and caused by such default.

LAWGIST

# 32 Liability of maker of note and acceptor of bill