Generally, an indorser, merely by indorsing, impliedly promises to the pay the holder, or any subsequent endorser the amount of the instrument if the drawer or maker defaults.

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Pedro Augusto Gurgel · Accepted Answer

Final Answer : True, Explanation :  By endorsing a negotiable instrument, the endorser not only transfers their rights to the endorsee but also implies a promise to pay the amount of the instrument if the original drawer or maker fails to pay. This is a form of secondary liability.

Generally, an indorser, merely by indorsing, impliedly promises to the pay the holder, or any subsequent endorser the amount of the instrument if the drawer or maker defaults.

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