Section 53: Liability of acceptor
consolidated text (as at 2011, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
53. Liability of acceptor
The acceptor of a bill by accepting it—
(a) engages that he will pay it according to the tenor of his
acceptance;
(b) is precluded from denying to a holder in due course—
(i) the existence of the drawer, the genuineness of his signature, and his capacity and authority to draw the bill;
(ii) in the case of a bill payable to a drawer’s order, the then
capacity of the drawer to indorse, but not the genuineness
or validity of his indorsement;
(iii) in the case of a bill payable to the order of a third person,
the existence of the payee and his then capacity to indorse,
but not the genuineness or validity of his indorsement.