Report No. 11
125. Notice of dishonour for non-acceptance.-
(1) When a bill is dishonoured by non-acceptance the holder thereof, or some party thereto who remains liable thereon, must give notice of dishonour to the drawer and each indorser, and any drawer or indorser to whom such notice is not given is discharged:1
Provided that where a bill is dishonoured by non-acceptance and notice of dishonour is not given, the rights of a holder in due course subsequent to the omission shall not be prejudiced by that omission.2
[Section 93, para 1, part, modified]
(2) Where a bill is dishonoured by non-acceptance and due notice of dishonour is given, it shall not be necessary to give notice of a subsequent dishonour by non-payment, unless the bill shall, in the meantime, have been accepted.2
1. See section 48, BEA.
2. See section 48, BEA.
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