Principle

COMMERCIAL LAW ā€” Bills of Exchange ā€” Liability of an Endorser is Equivalent to a New Drawer

Area of law
COMMERCIAL LAW
Court
Supreme Court

An endorser assumes liability equivalent to that of a new drawer on the bill. The endorser is liable to any subsequent holder if the drawer defaults on acceptance or payment. The principle applies to commercial law and bills of exchange. The rule ensures the bill'sā€¦

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