Q Explain the liability of makers, acceptors, drawers, drawees, indorsers, and accommodation parties. Compare the warranties on transfer with the warranties on presentment.
Every parties to contract are liable to something or the other during the transaction process: Maker: In most cases, the maker of the “Promissory Note” is held responsible for any kind of payments that is to be made to the payee. A maker in this circumstance can never flee from the situation on any aspect ("Warranty Liability of Parties", 2019).
