AdvocateKhoj
Login : Advocate | Client
Home Post Your Case My Account Law College Law Library
    

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.



Negotiable Instruments Act, 1881 Back




Client Area | Advocate Area | Blogs | About Us | User Agreement | Privacy Policy | Advertise | Media Coverage | Contact Us | Site Map
powered and driven by neosys