law: Negotiable Instruments Act, 1881 
  35. Liability of endorser 
  In the absence of a contract to the contrary, whoever endorses
  
  and delivers a negotiable instrument before maturity, without, in such
  
  endorsement, expressly excluding or making conditional his own liability, is
  
  bound thereby to every subsequent holder, in case of dishonor by the drawee,
  
  acceptor or maker, to compensate such holder for any loss or damage caused to
  
  him by such dishonor, provided due notice of dishonor has been given to, or
  
  received by, such endorser as hereinafter provided.
  Every endorser after dishonor is liable as upon an instrument
  
  payable on demand.