NI Act, Section 38. Prior party a principal in respect of each subsequent party

Category of Bare Act Name of the Act Year of Promulgation
Criminal Laws Negotiable Instruments Act 1881
Act Number Enactment Date Chapter Number
26 09.12.1881 3
Chapter Title Ministry Department
Parties to Notes, Bills and Cheques Ministry of Finance Department of Financial Services

As between the parties so liable as sureties, each prior party is, in the absence of a contract to the contrary. Also liable thereon as a principal debtor in respect of each subsequent party.