In force2023 Revised EditionCurrent version · 2023 Revised EditionSee versions on Attorney General's Chambers(opens the publisher’s site)
Bills of Exchange Act · 2023 Revised Edition · Part 2
Bills of Exchange Act · 2023 Revised Edition · Part 2
Official textFrom Attorney General's Chambers, unchanged
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.
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
holder
“holder” means the payee or indorsee of a bill or note who is in possession of it, or the bearer thereof;
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