BILLS OF EXCHANGE ACT 1909 - SECT 42 Negotiation of bill to party already liable thereon
BILLS OF EXCHANGE ACT 1909 - SECT 42
Negotiation of bill to party already liable thereon Where a bill is negotiated back to the drawer, or to a prior
indorser, or to the acceptor, he or she may, subject to the provisions of this
Act, re - issue and further negotiate the bill, but he or she is not entitled
to enforce payment of the bill against any intervening party to whom he or she
was previously liable.