Under Section 37 of the Negotiable Instruments Act, 1881, parties to an instrument other than the…
Under s.37 NI Act, parties to the instrument other than the maker, the drawer until acceptance, and the acceptor are liable as sureties for that principal debtor, not as…
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Under Section 37 of the Negotiable Instruments Act, 1881, parties to an instrument other than the maker, the drawer (until acceptance) and the acceptor are liable as:
Answer and explanation
Correct answer B
Under s.37 NI Act, parties to the instrument other than the maker, the drawer until acceptance, and the acceptor are liable as sureties for that principal debtor, not as agents, principals or witnesses.
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