Sec. 18. Liability of person signing in trade or assumed name. - No person is liable on the instrument whose signature does not appear thereon, except as herein otherwise expressly provided. But one who signs in a trade or assumed name will be liable to the same extent as if he had signed in his own name.
GENERAL RULE AS TO LIABILITY OF PERSON WHOSE SIGNATURE IS NOT ON INSTRUMENT
A person whose signature doesn’t appear on the instrument is not liable
EXCEPTIONS TO THE GENERAL RULE
1. Where a duly authorized agent signs for a person, the person is liable
2. Where a person sought to be charged forges the signature of another person, the forger is liable even if his signature doesn’t appear thereon
3. Where a person sought to be charged signs on a paper separate from the instrument itself, as in an allonge, although the allonge may be considered a part of the instrument, or where an acceptance is written on a paper other than the bill itself
4. Where the person uses an assumed name or trade name—one may become a party to a negotiable instrument by any designation he desires
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