MARVIN MANDEL, Governor                                  159

two or more persons who sign as waiter, acceptor or drawer
or indorser and as a part of the same transaction are
jointly and severally liable even though the instrument
contains such words as "I promise to pay."

(f) Unless otherwise specified consent to
extension authorizes a single extension for not longer
than the original period. A consent to extension,
expressed in the instrument, is binding on secondary
parties and accommodation makers. A holder may not
exercise his option to extend an instrument over the
objection of a Baker or acceptor or other party who in
accordance with § 3—604 tenders full payment when the
instrument is due.

3—119. Other writings affecting instrument.

(1)    As between the obligor and his immediate
obligee or any transferee the terns of an instrument may
be modified or affected by any other written agreement
executed as a part of the same transaction, except that a
holder in due course is not affected by any limitation of
his rights arising out of the separate written agreement
if he had no notice of the limitation when he took the
instrument.

(2)    A separate agreement does not affect the
negotiability of an instrument.

1—120. Instruments "payable through" bank.

An instrument which states that it is "payable
through" a bank or the like designates that bank as a
collecting bank to sake presentment but does not of
itself authorize the bank to pay the instrument.

3—121. Instruments payable at bank.

A note or acceptance which states that it is payable
at a bank is not of itself an order or authorization to
the bank to pay it.

3—122. Accrual of cause of action.

(1) A cause of action against a maker or an
acceptor accrues

fa) In the case of a time instrument on the
day after maturity;

(b) In the case of a demand instrument upon
its date, or if no date is stated, on the date of issue.

(2) A cause of action against the obligor of a