Negotiable Instruments Act, 1881
Section 32, NI Act: Liability of maker of note and acceptor of bill
Section 32 of the Negotiable Instruments Act, 1881, in the Act's own words.
The section
32. Liability of maker of note and acceptor of bill.
In the absence of a contract to the contrary, the maker of a promissory note and the acceptor before maturity of a bill of exchange are bound to pay the amount thereof at maturity according to the apparent tenor of the note or acceptance respectively, and the acceptor of a bill of exchange at or after maturity is bound to pay the amount thereof to the holder on demand. In default of such payment as aforesaid, such maker or acceptor is bound to compensate any party to the note or bill for any loss or damage sustained by him and caused by such default.The text is India Code's consolidated text as loaded into Pundora's statute corpus on 1 September 2026. A section quoted in a draft checked by Pundora is checked against this text.
Sources
- India Code: Negotiable Instruments Act, 1881, section 32 (read 1 September 2026)