Malaysia legislation
Section 54
Section 54
Liability of acceptor
(a)
engages that he will pay it according to the tenor of his acceptance;
(b)
is precluded from denying to a holder in due course—
(i)
the existence of the drawer, the genuineness of his signature, and his capacity and authority to draw the bill;
(ii)
in the case of a bill payable to drawer’s order, the then capacity of the drawer to indorse, but not the genuineness or validity of his indorsement;
(iii)
in the case of a bill payable to the order of a third person, the existence of the payee and his then capacity to indorse, but not the genuineness or validity of his indorsement.
38 Laws of Malaysia ACT 204
Liability of drawer or indorser