Question 88. - (1) A.B. and CD. are the makers of a sight draft upon X.Y. in favour of M.N., who becomes a holder for value before acceptance. Acceptance is refused.

(2) A.B. is the maker of a sight draft upon X.Y. in favour of CD., who endorses for value before acceptance to M.N. Acceptance is refused as in the former case. Are A.B. and CD. as fully liable to M.N. on the draft of which they are the makers as they are on the other draft where they art-drawer and endorser respectively?

Answer. - A.B. and CD. are equally bound in each case.