LawgistThe Negotiable Instruments Act
35Liability of indorser
In the absence of a contract to the contrary, whoever indorses and delivers a negotiable instrument before maturity without, in such it indorsement, expressly excluding or making conditional his own liability, is bound thereby to every subsequent holder, in case of dishonour by the drawee, acceptor or maker, to compensate such holder for any loss or damage caused to him by such dishonour, provided due notice of dishonour has been given to, or received by, such indorser as hereinafter provided.
Every indorser after dishonour is liable as upon an instrument payable on demand.
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PARTIES TO NOTES, BILLS AND CHEQUES
- 26 Capacity to make, etc., promissory notes, etc
- 27 Agency
- 28 Liability of agent signing
- 29 Liability of legal representative signing
- 30 Liability of drawer
- 31 Liability of drawee of cheque
- 32 Liability of maker of note and acceptor of bill
- 33 Only drawee can be acceptor except in need or for honour
- 34 Acceptance by several drawees not partners
- 35 Liability of indorser
- 36 Liability of prior parties to holder in due course
- 37 Maker, drawer and acceptor principals
- 38 Prior party a principal in respect of each subsequent party
- 39 Suretyship
- 40 Discharge of indorser's liability
- 41 Acceptor bound, although, indorsement forged
- 42 Acceptance of bill drawn in fictitious name
- 43 Negotiable instrument made, etc., without consideration
- 44 Partial absence or failure of money-consideration
- 45 Partial failure of consideration not consisting of money
- 45A Holder's right to duplicate of lost bill
