धारा 46

Section 46 of the Negotiable Instruments Act, 1881, provides that where there are several drawees of a bill of exchange who are not jointly liable, each of them can accept the bill separately. The section states that 'where there are several drawees of a bill of exchange who are not jointly liable, each of them can accept the bill separately'. The section further explains that if one of the drawees accepts the bill, it does not affect the liability of the other drawees. The Bombay High Court has held in 'Bank of Baroda vs. Khandelwal' (1987) that the acceptance by one drawee does not discharge the other drawees from their liability.