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Report No. 11

58. Liability of a maker of a promissory note.-

The maker of a note, by making it,engages that he will pay it at maturity according to its apparent tenor and in default of such payment the maker is bound to compensate any party to the note for any loss or damage sustained by him and caused by such default.1

1. See section 88(1), BEA.

[Section 32, part, modified"

Negotiable Instruments Act, 1881 Back

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