# Bills of Exchange Act 1882, Section 54: Liability of acceptor.


The acceptor of a bill, by accepting it—
(1) Engages that he will pay it according to the tenor of his acceptance:
(2) Is precluded from denying to a holder in due course:
(a) The existence of the drawer, the genuineness of his signature, and his capacity and authority to draw the bill;
(b) In the case of a bill payable to drawer’s order, the then capacity of the drawer to indorse, but not the genuineness or validity of his indorsement;
(c) 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.

---
Source: https://www.legislation.gov.uk/ukpga/Vict/45-46/61/section/54 (the official version)
Page: https://openlegislation.uk/bills-of-exchange-act-1882/section-54
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.