Statistics Act, 1999
R 385
Bills of Exchange Act, 1964 (Act No. 34 of 1964)Chapter IThe consideration for a bill26. Accommodation bill or party |
| (1) | An accommodation party to a bill is a person who has signed a bill as drawer, acceptor or indorser, without receiving value therefor, but for the purpose of lending his name to some other person. |
| (2) | An accommodation party is liable on the bill to a holder for value, irrespective of whether or not, when such holder took the bill, he knew such party to be an accommodation party. |
