The liability of the endorser is conditioned on the validity of bill of exchange of promissory note.?

Question

The liability of endorser is conditioned on the validity of bill of exchange of promissory note. The endorser's obligation, being accessory is valid ony if the principal obligation is valid. Where an instrument with maker or drawer's signature is forged and he refuses to pay, may the holder go after the indorser? Why?

Answer 1

Yes because the endorser implicitly benefited from the exchange