Chapter III — PARTIES TO NOTES, BILLS AND CHEQUES
ধারা ৩৮ALiability of accommodation party and position of accommodation party
1[38A.(1) An accommodation party is liable on a negotiable instrument to a holder in due course, notwithstanding that when such holder took the instrument he knew such party to be an accommodation party.
(2) An accommodation party to a negotiable instrument, if he has paid the amount thereof, is entitled to recover such amount from the party accommodated.]
- Section 38A was inserted by section 23 of the Negotiable Instruments (Amendment) Ordinance, 1962 (Ordinance No. XLIX of 1962)