Liability of maker

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The maker of a promissory note, by making it —

engages that the maker will pay it according to its tenor; and

is precluded from denying to a holder in due course the existence of the payee and the payee’s then capacity to indorse.

5 Parts

s.88Liability of maker— Bills of Exchange Act (2021 Revision)

Section 88Part 4 — Promissory Note

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The maker of a promissory note, by making it —

engages that the maker will pay it according to its tenor; and

is precluded from denying to a holder in due course the existence of the payee and the payee’s then capacity to indorse.