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Convention Providing a Uniform Law For Bills of Exchange and Promissory Notes
(Geneva, 1930) The League of Nations
copy @ Lex Mercatoria
All drawers, acceptors, endorsers or guarantors by aval of a bill of exchange are jointly and severally liable to the holder. The holder has the right of proceeding against all these persons individually or collectively without being required to observe the order in which they have become bound.
The same right is possessed by any person signing the bill who has taken it up and paid it.
Proceedings against one of the parties liable do not prevent proceedings against the others, even though they may be subsequent to the party first proceeded against.
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