https://www.taxtmi.com/acts?id=7620 Where a holder of a negotiable instrument, without the indorser's consent, destroys or impairs the indorser's remedy against a prior party, the indorser is discharged from liability to the holder to the same extent as if the instrument had been paid at maturity. This covers unilateral acts by the holder that remove or weaken the indorser's ability to pursue antecedent parties and thereby excuse the indorser from corresponding liability. en-us Sat, 19 Jan 2008 22:45:54 +0530 Sat, 19 Jan 2008 22:45:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=7620 Where a holder of a negotiable instrument, without the indorser's consent, destroys or impairs the indorser's remedy against a prior party, the indorser is discharged from liability to the holder to the same extent as if the instrument had been paid at maturity. This covers unilateral acts by the holder that remove or weaken the indorser's ability to pursue antecedent parties and thereby excuse the indorser from corresponding liability. Act-Rules Indian Laws Sat, 19 Jan 2008 22:45:54 +0530 https://www.taxtmi.com/acts?id=7620