377. Liability of acceptor
The acceptor of a bill, by accepting it—
(1) Engages that he or she will pay it according to the tenor or his or her acceptance.
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(2) Is precluded from denying to a holder in due course—
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(a) the existence of the drawer, the genuineness of his or her signature, and his or her capacity and authority to draw the bill;
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(b) in the case of a bill payable to drawer's order, the then capacity of the drawer to indorse, but not the genuineness or validity of his or her indorsement;
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(c) in the case of a bill payable to the order of a third person, the existence of the payee and his or her then capacity to indorse, but not the genuineness or validity of his or her indorsement.