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Report No. 11

119. Time for presentment for acceptance of a bill payable after sight.-

(1) Subject to the provisions of this Act, when a bill payable after sight is negotiated, the holder must either present it for acceptance or negotiate it within a reasonable time.

(2) If he does not do so, the drawer and all indorsers prior to that holder are discharged1

1. See section 40, BEA.

[Section 61, para 1, part, modified]

Negotiable Instruments Act, 1881 Back

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