Can a guarantor of a bill be discharged and have recourse against the drawer and acceptor of the bill?
Saskatchewan, Canada
The following excerpt is from Yant v. Litman, 1947 CanLII 128 (SK QB):
In Philips v. Astling (1809) 2 Taunt 206, 127 ER 1056, the defendants guaranteed acceptance of a bill and, as. I understand the decision, the guarantors were discharged because no demand was made upon the drawer and acceptor of the bill and notice of dishonour was not given to them. I take it that the drawer and acceptor were therefore discharged and that there was no recourse against the guarantors.
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