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Report No. 11

62. Liability of surety.-

When the holder of an accepted bill enters into any contract with the acceptor, which, under section 134 or 135 of the Indian Contract Act, 1872, would discharge the other parties, the holder may expressly reserve his right to charge the other parties, and in such case they are not discharged.

(Section 391



Negotiable Instruments Act, 1881 Back




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