| 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 |
Where the holder of a negotiable instrument, without the consent of the endorser, destroys or impairs the endorser’s remedy against a prior party, the endorser is discharged from liability to the holder to the same extent as if the instrument had been paid at maturity.