Singapore legislation

Section 94

of Bills of Exchange Act 1949

Section 94

Joint and several notes

(1)

A promissory note may be made by 2 or more makers, and they may be liable thereon jointly, or jointly and severally according to its tenor.

(2)

Where a note runs “I promise to pay” and is signed by 2 or more persons it is deemed to be their joint and several note.