Mera Samvidhaan All of Negotiable Instruments Act, 1881

Chapter III · Parties to Notes, Bills and Cheques.

39Suretyship.

Section 39 · Chapter III · page 13 of the Act

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.

Section 39 of The Negotiable Instruments Act, 1881 is reproduced in full above, as printed by India Code, with its footnotes and amendment markers. Read the whole Act, or browse every Act on Mera Samvidhaan.