The accommodation party to a bill or note may hold the position either of maker, drawer, or indorser. To all persons except the person accommodated the accommodation maker or indorser is liable to the same extent as if he was a maker or indorser for a consideration. Knowledge of the mere want of consideration between the original parties is not sufficient to prevent a purchaser from becoming a bona fide holder.15 The accommodation party is of course never liable to the accommodated party, no matter what their respective relations upon the paper may appear to be; and if the accommodation party is compelled to pay the bill or note he has a right of recovery against the accommodated party.

12 Am. & Eng. Ency. of Law, Vol. IV, p. 478. Hannum vs. Richardson, 48 Vt., 508.

14 Harton vs. Scales. Minor (Ala.), 166. 15 Palmer vs. Field, 76 Hun., 229;

27 N. Y. Supp., 736.