9.3 Parties and Liabilities

The parties: the maker/drawer, the drawee/acceptor, the payee, the indorsers, the holder (and the HOLDER IN DUE COURSE — the bona fide transferee for value before maturity, without notice of defects: the protected purchaser). The liabilities: the maker's-and-acceptor's PRIMARY (the own promise/acceptance — the absolute); the drawer's-and-indorser's SECONDARY (the contingent — the dishonour's liability); the surety's faces; the joint-and-several craft.