Report No. 11
122. Dishonour by non-acceptance and its consequences.-
(1) A bill is dishonoured by non-acceptance?
(a) when the drawee, or one of several drawees not being partners, makes default in acceptance upon being duly required to accept the bill;
[Section 91, para. 1, part.]
(b) where presentmen is excused and the bill is not accepted;
[Section 91, para. 1, part.]
(c) where the drawee is incompetent to contract, or the acceptance is qualified.
[Section 91, para. 2)
(2) Subject to the provisions of this Act, when a bill is dishonoured by non-acceptance, an immediate right of recourse against the drawer and indorsers accrues to the holder, and no presentment for payment is necessary.1
1. See section 43(2), BEA.
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