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Report No. 11

114. Time for deliberation by drawee.-

(1) The holder of a bill must, if so required by the drawee to whom it is presented for acceptance, allow the drawee forty-eight hours (exclusive of public holidays) to consider whether he will accept it.

[Section 63]

(2) If such holder allows such drawee more time than specified in sub-section (1) all previous parties not consenting to such allowance are thereby discharged from liability to such holder.

[Section 83]

Negotiable Instruments Act, 1881 Back

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