The maker of a promissory note or cheque, the drawer of a 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.
Chapter III — PARTIES TO NOTES, BILLS AND CHEQUES
Section 37
Maker, drawer and acceptor principals.
Printed from Law on Tips • The Negotiable Instruments Act, 1881