Section 66
Liability of acceptor for honour
ActIn forceProvision 66 of 107
Section 66
(1)
The acceptor for honour of a bill by accepting it engages that he will, on due presentment, pay the bill according to the tenor of his acceptance, if it is not paid by the drawee, provided it has been duly
Bills of Exchange 43
presented for payment, and protested for non-payment, and that he receives notice of these facts.
(2)
The acceptor for honour is liable to the holder and to all parties to the bill subsequent to the party for whose honour he has accepted.