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1 The indorser of a bill, by indorsing it engages that, on due presentment, it shall be accepted and paid according to its tenor.
2 The simple signature of the indorser on the bill, without additional words, is sufficient.
3 If the bill as a non-drawer, acceptor or indorser signature of the party's share has, until the contrary is proved, be presumed that the person on grounds of effective and unconditional delivery.
4 If the drawer or indorser is bankrupt, a refund may notice issued to the parties or the trustee himself.
5 In such case, any indorser who would have had a right of recourse against the party whose signature is cancelled is also discharged.
6 If not formally suggest that the drawer and indorser liability should be lifted.
7 If the bill is received by the drawer or indorser to retain acceptance of the notice within a reasonable time without ticket holders did not agree shall be deemed to have agreed to retain acceptance.
8 A restrictive indorsement gives the indorsee the right to receive payment of the bill and to sue any party thereto that his indorser could have sued.
9 In this case,(www.Sentencedict.com) any sign of the party being wiped clean with a recourse liability of the indorser can be lifted.
10 Where a bill is no longer in the possession of a party who has signed it as drawer, acceptor, or indorser, a valid and unconditional delivery by him is presumed until the contrary is proved.
11 Presentment for payment is necessary in order to render the indorser of a note liable.
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