Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Capacity to incur liability as a party to a bill is co - extensive with capacity to contract:
Provided that nothing in this section shall enable a corporation to make itself liable as drawer, acceptor, or indorser of a bill, unless it is competent to it so to do under the law for the time being in force relating to corporations.
(2) Where a bill is drawn or indorsed by an infant or corporation having no capacity or power to incur liability on a bill, the drawing or indorsement entitles the holder to receive payment of the bill, and to enforce it against any other party thereto.