33
CurrentAccommodation bill or party
Part IIBills of exchange
Division 3The consideration for a bill
33 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, and for the purpose of lending his or her name to some other person.
(2)
An accommodation party is liable on the bill to a holder for value; and it is immaterial whether, when such holder took the bill, he or she knew such party to be an accommodation party or not.
This Act’s bill:Second reading speech
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