All parties who have drawn, accepted, endorsed or guaranteed a bill of exchange are liable as co-obligors towards the holder.
The holder may resort to any of them individually, severally or all together without being bound by the order in which they assumed their obligations.
The same right accrues to every party who has honoured the bill of exchange.
In asserting his claim against one party liable on a bill, the holder does not surrender his rights against the others or against the endorsers subsequent to such party.
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