39: Suretyship
The Negotiable Instruments Act · Federal Acts · Chapter III · in_force
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When the holder of an accepted bill of exchange enters into any contract with the acceptor which, under section 134 or 135 of the Contract Act, 1872 (IX of 1872), would discharge the other parties, the holder may expressly reserve his right to charge the other parties, and in such case they are not discharged.
Effective date: 1881-12-09
Related sections
38A: Liability of accommodation party and position of accommodation party40: Discharge of indorser’s liability38: Prior party a principal in respect on each subsequent party41: Acceptor bound although indorsement forged37: Maker, drawer and acceptor principals42: Acceptance of bill drawn in fictitious name
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