42
CurrentNegotiation of bill to party already liable thereon
Part IIBills of exchange
Division 4Negotiation of bills
42 Negotiation of bill to party already liable thereon
Where a bill is negotiated back to the drawer, or to a prior indorser, or to the acceptor, he or she may, subject to the provisions of this Act, re‑issue and further negotiate the bill, but he or she is not entitled to enforce payment of the bill against any intervening party to whom he or she was previously liable.
This Act’s bill:Second reading speech
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