LA

Section 40. By the payee against the drawer of a bill of exchange, which has been dishonoured bynonacceptance

In force · As amended up to 2026-08

40. By the payee against the drawer of a bill of exchange, which has been dishonoured bynonacceptance. 41. By the acceptor of an accommodation-bill against the drawer. 42. By a surety against the principal debtor. 43. By a surety against a co-surety.

Source: India Code