Under the Negotiable Instruments Act, 1881, the acceptor of a bill of exchange is:
Section 37 ordinarily treats the acceptor as a "principal debtor" and the other parties as his sureties. This allocation is expressly subject to a contract to the contrary,…
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Under the Negotiable Instruments Act, 1881, the acceptor of a bill of exchange is:
Answer and explanation
Correct answer D
Section 37 ordinarily treats the acceptor as a "principal debtor" and the other parties as his sureties. This allocation is expressly subject to a contract to the contrary, and does not make the acceptor the drawer's agent.
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