1. Persons who have committed themselves under the bill of exchange shall be jointly liable towards its bearer. 2. The bearer may have recourse against such obligors, separately or jointly, without having to observe the order of their obligations. 3. The right of recourse of each signatory on the bill of exchange shall, if he pays its value, be established against the obligors towards him. However, an action instituted against any of such obligors shall not prevent the right of recourse against others, even if they are subsequent to the obligor against whom the action was initially instituted.
Interpretation and application must be checked against the official text and current version.