NI Act, Section 39. Surety ship

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

When the holder of an accepted bill of exchange enters into any contract with the acceptor which, under section 134 or 135 of the Indian Contract Act,1872 ( 9 of 1872), would discharge the other parties, the holder may expressly reserve his right to charge the other parties, and in such case they are not discharged.