Document ID: chunk:federal_register_of_legislation:C2017C00074:section:73
Version: federal_register_of_legislation:C2017C00074
Segment Type: section
Provision Reference: s 73
Character Range: 78440–79055

73  Liability of indorser
  Subject to subsection 17(2), section 59 and subsection 60(2), an indorser of a cheque, by indorsing the cheque, undertakes:
 (a) that, on due presentment for payment, the cheque will be paid according to its tenor as indorsed by the indorser; and
 (b) that:
 (i) if the cheque is dishonoured when duly presented for payment; or
 (ii) if presentment of the cheque for payment is dispensed with by virtue of paragraph 59(a) or (aa) and the cheque is unpaid after its date has arrived;
  the indorser will compensate the holder or a subsequent indorser who is compelled to pay the cheque.