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Supreme Court of India
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Criminal Law
Bare Acts
The Negotiable Instruments Act, 1881
Section 98-145
Section 98
Section 99
Section 100
Section 101
Section 102
Section 103
Section 104
Section 104-A
Section 105
Section 106
Section 107
Section 108
Section 109
Section 110
Section 111
Section 112
Section 113
Section 114
Section 115
Section 116
Section 117
Section 118
Section 119
Section 120
Section 121
Section 122
Section 123
Section 124
Section 125
Section 126
Section 127
Section 128
Section 129
Section 130
Section 131
Section 131-A
Section 132
Section 133
Section 134
Section 135
Section 136
Section 137
Section 138
Section 139
Section 140
Section 141
Section 142
Section 143
Section 144
Section 145
Section 111- Liability of acceptor for honor

An acceptor for honor binds himself to all parties subsequent to the party for whose honor he accepts to pay the amount of the bill if the drawee do not; and such party and all prior parties are liable in their respective capacities to compensate the acceptor for honor for all loss or damage sustained by him in consequence of such acceptance.

But an acceptor for honor is not liable to the holder of the bill unless it is presented, or (in case the address given by such acceptor on the bill is a place other than the place where the bill is made payable) forwarded for presentment, not later than the day next after the day of its maturity.

     
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