The maker of a promissory note or cheque, the drawer of a bill of exchange until acceptance, and the acceptor are, in the absence of a contract to the contrary, respectively liable thereon as principal debtors, and the other parties thereto are liable thereon as sureties for the maker, drawer or acceptor, as the case may be.
India Code, Government of India. Text fetched 09 Oct 2026. Source metadata reports last modification: 2018-04-16. Check the linked official text and subsequent notifications when applying a provision.