Nakley | Free HD Wallpapers, Background Images
There are three conditions for drawers or endorsers to be made to pay for a given negotiable instrument under secondary liability, all of which must be met for the secondarily liable party to be required to pay. The first requirement is that the instrument must have been presented for payment in a proper and. The maker of a note and drawee of a draft are primarily liable to pay the instrument. Parties who later sign, transfer, or present an instrument may be secondarily liable to pay the instrument.