Back to the text
Bills of Exchange Act · s 28
Suggest a correction
Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.
Bills of Exchange Act · s 28
Tell us what is wrong in this text. We check every suggestion against the official version before we change anything.
An accommodation party to a bill is a person who has signed a bill as drawer, acceptor, or indorser, without receiving value therefor, and for the purpose of lending his name to some other person.
An accommodation party is liable on the bill to a holder for value; and it is immaterial whether, when such holder took the bill, he knew such party to be an accommodation party or not.